Gold futures ended higher on Friday after US Federal Reserve Chair Janet Yellen made no mention of monetary policy in her much-anticipated speech, while investors awaited clues from European Central Bank President Mario Draghi. Yellow metal prices further improved after downbeat economic data. After reporting a sharp jump in new orders for US manufactured durable goods in the previous month, the Commerce Department released a report on Friday showing a sharp pullback in durable goods orders in the month of July. 

The Commerce Department said durable goods orders plunged by 6.8 percent in July after surging up by 6.4 percent in June. Gold futures for December delivery gained $5.90, or 0.5 percent, to settle at $1,297.90 an ounce on the Comex division of the New York Mercantile. While, spot gold was up 0.5 percent at $1,292.14 an ounce.

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