Gold futures finished higher on Friday, but posted losses of close to 3% for the month as well as the quarter.
As long as the Federal Reserve keeps its benchmark rates well above 5% and delays the prospects of a rate cut, that "should extend the wait for bullion bulls before prices can see a meaningful recovery, barring any sudden spike in geopolitical tensions or recession fears in the interim," said Han Tan, chief market analyst at Exinity Group.
Gold for August delivery climbed by $11.50, or 0.6%, to settle at $1,929.40 an ounce on Comex. Prices based on the most-active contract, ended 20 cents lower for the week, and lost 2.7% for the month and 2.9% for the quarter, according to Dow Jones Market Data.
Source: Marketwatch
