Gold futures on the COMEX division of the New York Mercantile Exchange rose on Friday as the U.S. dollar fell.
The most active gold contract for December delivery rose 12.9 U.S. dollars, or 0.69 percent, to close at 1,886.2 dollars per ounce.
Gold found additional support as COVID-19 new cases and hospitalizations in the United States keep rising.
Gold’s growth was capped as U.S. Department of Commerce reported the producer price index (PPI) rose 0.3 percent in October, and the core producer prices excluding volatile food and energy prices rose 0.2 percent. PPI rise indicates inflation.
Market analysts hold that uncertainty about the economic outlook at present has always been supportive of gold.
Silver for December delivery rose 46.9 cents, or 1.93 percent, to close at 24.775 dollars per ounce. Platinum for January delivery rose 12 dollars, or 1.36 percent, to close at 896 dollars per ounce.
