Gold futures traded higher in early deals of Friday, kindled by the bets over Federal Reserve interest rate cut next month. The yellow metal for the most active contract is nearing a five-week high and is on track to mark fourth straight monthly gain. Strong central-bank buying and robust non-sovereign inflows into ETFs buoyed the precious metal rates. The US stock markets were closed on Thursday for Thanksgiving holiday.
Gold futures for December delivery rose by $25.20 or 0.60% to $4,165.20 an ounce on the Comex division of the New York Mercantile. While, spot gold down by $10.13 or 0.25% to $4,152.09 an ounce.
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