Gold futures end at highest since August, up 5.5% for the week

Gold futures finished higher on Friday, holding ground at their highest since August and posting a gain of 5.5% for the week. Prices for the precious metal got a boost as the U.S. dollar fell to a more than two-month low on the back of the October consumer price index data released Thursday, which fed expectations that the Federal Reserve may slow the pace of interest-rate hikes. Gold for December delivery
GCZ22,
+0.98%
rose $15.70, or 0.9%, to settle at $1,769.40 an ounce on Comex, the highest most-active contract finish since Aug. 25, according to Dow Jones Market Data.