Metals Stocks: Gold futures gain nearly 3% for the month

Gold futures settled on Friday with a monthly gain of nearly 3%, after a report on U.S. economic growth came in weaker than expected, pushing the dollar lower and lifting prices for the precious metal higher to a three-week high.

Gold saw further support as many investors believe that the Federal Reserve lacks the confidence to lift rates too abruptly without further signs of strength in the U.S. economy.

December gold GCZ6, +1.37% gained $16.30, or 1.2%, to settle at $1,357.50 an ounce. That was the highest finish since July 8 for gold futures.

For the week, gold futures ended roughly 2.6% higher, according to FactSet data.

>>> Original Source <<<