Gold futures end higher to post a gain for the week

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Gold futures climbed on Friday, tallying a second weekly gain in a row. “The Afghanistan situation and coronavirus situation is preventing gold and silver prices from a crash,” said Chintan Karnani, director of research at Insignia Consultants. Gold’s rise despite a very strong U.S. dollar index indicates traders have switched focus to the uncertainties tied to the Taliban takeover in Afghanistan and the coronavirus situation. “A worsening of either Afghanistan or coronavirus on the weekend can result in gold price rising in early Asian session on Monday,” said Karnani. “Only surprises (other than taper timing and taper) in the annual central bankers conference in Jackson Hole, [Wyo.] next week will affect bullion and forex markets.” December gold
GCZ21,
-0.03%
rose 90 cents, or 0.05%, to settle at $1,784 an ounce, with most-active contract prices up 0.3% for the week, according to FactSet data.

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