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Gold prices settle lower, but tally a gain for the week

·4 min read
Gold prices settle lower, but tally a gain for the week
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  • PL=F
  • GC=F
  • ZG=F
  • SI=F
  • ZI=F
  • HG=F
  • PA=F
  • ^TNX

Gold futures ended with a loss on Friday, as some investors sold the precious metal ahead of the three-day holiday weekend in the U.S., but prices still tallied a gain for the week — their fifth in six weeks. Prices for the precious metal had found earlier support from overall weakness in the U.S. dollar and declines in the U.S. retail sales and consumer sentiment readings. Following Friday’s “devastating U.S. retail sales report,” prices for gold climbed, but then moved lower, pressured by “profit-taking against the news and ahead of the long weekend,” said Colin Cieszynski​, chief market strategist at SIA Wealth Management.