Gold rises as U.S. treasury yields fall

Gold futures on the COMEX division of the New York Mercantile Exchange rose on Friday as U.S. treasury yields fell.

The most active gold contract for December delivery rose 8.3 U.S. dollars, or 0.46 percent, to close at 1,815.5 dollars per ounce.

Gold rose 1.3 percent for the week, clinching a gain for the fourth week in a row, the longest stretch of weekly gains since Dec. 31, 2021.

The University of Michigan’s preliminary August reading on the overall index on consumer sentiment came in at 55.1, up from 51.5 in July and above economists’ median forecast of 52.5. The index hit a record low of 50 in June.

Silver for September delivery rose 34.9 cents, or 1.72 percent, to close at 20.698 dollars per ounce. Platinum for October delivery was unchanged from the previous trading session, to close at 959.4 dollars per ounce.