Gold prices climbed on Friday, reacting to dovish comments from European Central Bank President Mario Draghi and a surprise rate cut from China’s central bank.Gold for December delivery GCZ4, +0.89% settled at $1,197.70 an ounce, gaining $12.10 or 0.6% for the day. The contract traded above the $1,200 level that some traders watch closely, but wasn’t able to settle above that mark. December gold advanced 1% for the week.
December silver SIZ4, +1.78% jumped 26 cents, or 1.6%, to settle at $16.40 an ounce, advancing 0.2% for the week.
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