Gold futures settled higher on Friday, their first gain after a nine-session losing streak, their the longest string of losses since 2017. However, futures prices for the precious metal based on the most-active contract still ended the week with a loss of nearly 1.6%, according to Dow Jones Market Data. “With long term [Treasury] yields heading back to 2008 levels and inflation looking as if it may be coming down, the rationale for owning gold looks set to diminish further,” said Michael Hewson, chief market analyst at CMC Markets UK. Gold for December delivery
GCZ23,
rose $1.30, or nearly 0.1%, to settle at $1,916.50 an ounce on Comex.
