Here’s what might fuel a further rally for gold

Gold futures ended the week higher for the first time in a month—and there are a lot of factors on tap over the next several weeks that can provide a further boost to prices.

Expectations that the U.S. Federal Reserve will decide to raise interest rates at its meeting this month, along with strength in the dollar had fueled losses for the metal in 10 out of the last 11 trading sessions. Prices suffered a drop of 5.9% in May.

On Friday, however, they made a sharp turn higher after May unemployment data showed that U.S. economy created the least number of jobs in almost six years.

August gold GCQ6, +0.03%  settled at $1,242.90 an ounce, up $30.30, or 2.5%, on Friday. It was finished the week with a 2.2% gain—at its highest settlement in more than a week.

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