WASHINGTON (dpa-AFX) - Gold futures settled higher on Friday, extending recent gains, but posted losses for the week and the month.
A weaker dollar, and persisting tensions in the Middle East, and the ongoing war between Russia and Ukraine pushed up the yellow metal's safe-haven appeal.
The dollar index dropped to 105.75, losing nearly 0.3%.
Gold futures for December closed up $17.10 or about 0.65% at 2,657.00 an ounce. Gold futures shed about 2% in the week, and nearly 3% in November.
Silver futures for December ended higher by $0.574 or about 1.9% at $30.685 an ounce. Gold futures lost a little over 2% in the week, and lost 6% in the month.
Copper futures for December climbed to $4.0820 per pound, gaining $0.0150 or about 0.37%.
Eurostat said inflation in the Euro area climbed for a second straight month in November, with the harmonized index of consumer prices, or HICP, rising 2.3% year-on-year following a 2% increase in October, according to preliminary data.
Core inflation, which excludes prices of food, energy and alcohol and tobacco, was steady at 2.7%. Economists had forecast a score of 2.8%.
On the geopolitical front, Russia launched a series of strikes on Ukraine's energy infrastructure, exacerbating the power crisis across the country.
Ukrainian President Volodymyr Zelenskiy has condemned Russia's actions as a 'despicable escalation,' highlighting the use of Cruise missiles with cluster munition.
Meanwhile, Israel and Hezbollah have accused each other of violating the ceasefire norms that came into effect this week.
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