Gold futures climbed on Friday, but ended with a loss for the week. It has been another lackluster trading week for gold prices, “despite the growing list of themes driving market sentiment,” said Lukman Otunuga, senior research analyst at FXTM.
“While key drivers in the form of vaccine news [and] surging coronavirus cases are likely to impact gold in the near term, the precious metal is waiting for a fresh directional catalyst,” he said. December gold GCZ20, +0.43% climbed by $10.90, or 0.6%, to settle at $1,872.40 an ounce. Prices based on the most-active contract declined by roughly 0.7% from last Friday’s settlement.