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05-May2018

Gold futures end modestly higher on Friday

Gold futures ended modestly higher on Friday as the US dollar weakened slightly due to softer-than-expected US job data. However, gains remained capped as the data was strong enough to support the case for more interest rate hikes. Rising interest rate makes gold less attractive to investors as it does not pay interest.

Gold futures for June delivery settled up by $2, or 0.2 percent, at $1,314.70 per ounce, on the Comex division of the New York Mercantile. While, spot gold was up by 0.2 percent to $1,314.23 per ounce.



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