COMMODITY
Gold futures finish higher on Friday
Oct-01-2022

Gold futures finished higher on Friday, the yellow metal boosted to $1,672 as US dollar dipped to a one-week low, making gold less expensive for buyers holding other currencies. Further, China's September Caixin General Manufacturing purchasing manager's index (PMI) falls to 48.1 on COVID-19 curbs, also providing a short-term support to precious metal as investors still worry about recession. However, anticipation more interest rate hikes by US Federal Reserve in the coming months capped further gains.

Gold futures for December edged up by $3.4 or 0.7% to settle at $1672.00 an ounce on the Comex division of the New York Mercantile. While, Spot gold rose 0.7% to $1,671.68 per ounce.

  RELATED NEWS >>