: Gold futures settle higher for the week

Gold futures edged higher on Friday to notch a fourth straight session gain, ending nearly 2% higher for the week as recent data showed a slowdown in U.S. inflation. “Lower inflation used to be, in a sane world, bearish for gold,” wrote Brien Lundin, editor of Gold Newsletter. “These days, because falling inflation promotes a more dovish Fed, it’s bullish for every asset class, including gold.” Gold for August delivery GCQ23 inched up by 60 cents to settle at $1,964.40 an ounce on Comex. That was the highest most-active contract finish since June 16, and prices ended the week up about 1.7%, according to Dow Jones Market Data.

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