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
GCQ23,
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.
