COMMODITY
Gold futures finish higher for fifth consecutive session on Friday
Nov-23-2024

Gold futures finished higher for fifth consecutive session on Friday, kindled by the safe haven appeal of the bullion amidst increasing geopolitical risks. The Federal Reserve’s monetary policy outlook after US jobless claims unexpectedly fell, adding to speculation about a slower pace of Fed rate cuts, also fuelled the yellow metal investments. The precious metal for the most active contract gained nearly 5% this week.

Gold futures for December rose by $ 37.90 or 1.40% to $ 2,737.20 ounce on the Comex division of the New York Mercantile. Spot gold climbed by $ 46.47 or 1.74% to $ 2,716.19 per ounce.

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