Gold futures finished sharply lower on Friday, retreating from an all-time high of $4,379.60 hit earlier in the session. Eased concerns over US-hina trade conflicts, rebound in dollar and rising bond yield notes saddled the yellow metal rates. The precious metal for the most active contract marked 5.3% gains for the week, and 60% rise so far this year, fuelled by more Fed interest rate cuts, the looming government shutdown, geopolitical tensions, and strong demand for safe-haven assets.
Gold futures for December delivery plunged by $91.30 or 2.12% to settle at $4,213.30 an ounce on the Comex division of the New York Mercantile. While, spot gold tumbled by $$74.76 or 1.73% to settle at $4,251.82 an ounce.
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