Gold Settles Higher As Dollar Weakens

By Staff,

Shutterstock photo

Gold futures settled higher Friday, on hopes that Spain and EU officials could possibly work out an economic reform plan that enables the fourth largest economy in Europe to request a bailout, RTT News reported.

Gold also found support with the dollar weakening against the euro and other major currencies, on fears the recent measures to stimulate growth could fuel inflation and keep interest rates at rock bottom.

Gold for December delivery, the most actively traded contract, gained $7.80 or 0.4% to close at $1,778.00 an ounce Friday on the Comex division of the New York Mercantile Exchange. Gold for December delivery traded at an intraday high of $1,790.00 and a low of $1,769.10 an ounce.

For the week, gold prices gained around 0.5%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks:

More from MT Newswires


MT Newswires

MT Newswires

Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by