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Gold futures continued to rise Friday, extending weekly gains as stocks languished. With risk aversion picking up, gold has jumped to highest in more than a month due to its safe haven appeal
August gold climbed $9.40, or 0.8%, to settle at $1,254.90/oz, having picked up 2% this week. Silver has also rallied, fighting back from yearly lows over the past two weeks.
Commodities were boosted this month by a weaker U.S. dollar. The greenback has dropped sharply this summer amid renewed speculation the Federal Reserve will keep interest rates on hold until at least December.
