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Gold futures settle higher, posting a gain for the week

Gold futures settled higher on Friday, with concerns surrounding rising inflation prompting prices to post a gain for the week. Gold prices, however, finished off the session’s highest price levels after Federal Reserve Chairman Jerome Powell said Friday that it was “time to taper” the central bank’s $120 billion in monthly asset purchases. December gold climbed by $14.40, or 0.8%, to settle at $1,796.30 an ounce. Prices based on the most-active contract climbed about 1.6% for the week, marking a second consecutive weekly gain, according to FactSet data.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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