Gold futures settled sharply lower on Friday, as the safe haven appeal of the bullion dulled after the release of better than expected US Nonfarm Payrolls report. Further, surging dollar and firming bond yield notes also dulled investment appeal of the precious metal rates. The yellow metal for the most active contract marked 1.1% loss for the week.
Gold futures for December delivery down by $63.30 or 1.39% to settle at $4,476.60 an ounce on the Comex division of the New York Mercantile. While, spot gold dipped by $42.94 or 0.96% to $4,429.98 an ounce.