FX.co ★ Gold Futures Settle Flat, But Gain 1.8% In Week

Gold Futures Settle Flat, But Gain 1.8% In Week

Despite recovering from the session's lows, Gold futures settled flat on Friday, weighed down by a strong dollar.

The dollar index climbed to 103.20, gaining nearly 0.5%.

Gold prices recovered after U.S. stocks turned weak after an initial uptick. While bargain hunting after recent sharp losses pushed up stock prices early on in the session, worries about inflation and growth pulled the market down into negative territory.

Gold futures for June ended with a gain of $0.90 at $1,842.10 an ounce. Gold futures for June gained about 1.8% in the week, its first weekly loss since the week ended April 22. The four-week losing stretch was gold's longest in nearly four years.

Silver futures for July ended lower by $0.234 at $21.674 an ounce, while Copper futures for July settled at $4.2750 per pound, down $0.0080 from the previous close.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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