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17-Nov2018

Gold futures end higher on weak dollar

Gold futures ended higher on Friday, marking about 1.2% gain for the week, as stock market and greenback eased, boosting bullion investments. The dollar fell to one-week lows against a basket of major currencies, making the yellow metal cheaper for other currency holders. Meanwhile, the outlook that Federal Reserve might not raise interest rates aggressively as some of its officials cautioned about the slowing down global economic growth, also supported upside momentum.

Gold futures for December delivery settled up $8, or 0.7 percent, at $1,223.00 per ounce, on the Comex division of the New York Mercantile. While, spot gold rose 0.7 percent to $1,221.60 per ounce.


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