Gold futures rose on Friday, adding to a push toward fresh six-year highs, amid a backdrop of lower interest rates and monetary-policy easing that bulls deem ideal for the metal to rally.
August gold trading was gaining $10.70, or 0.8%, to $1,438.80 an ounce, after hitting $1,448 an ounce in electronic trade Thursday at 4 p.m. Eastern time. Thursday’s settlement was the loftiest for a most-active contract since May 13, 2013, marking a fresh 52-week high for the commodity, according to Dow Jones Market Data.
The commodity was on track for a weekly gain of 1.8% based on its July 12 close, which would represent its sharpest advance since the week ended June 21, FactSet data show.
Source : MarketWatch