Nonetheless, the gains were limited with markets continuing to closely monitor the situation in
Gold futures gained about 0.3% for the week -- the fourth consecutive week of gain for the precious metal.
Hawkish remarks from a top Federal Reserve official also weighed on gold prices. St. Louis Fed President
Gold for August delivery, the most actively traded contract, gained
Gold for August delivery scaled an intraday high of
On Thursday, gold futures ended lower snapping a six-day winning streak, on profit taking and a stronger dollar.
The dollar index, which tracks the US unit against six major currencies, traded at 80.06 on Friday, down from its previous close of 80.21 late Thursday in North American trade. The dollar scaled a high of 80.22 intraday and a low of 80.04.
The euro traded higher against the dollar at
In economic news from the US, a Thomson Reuters and the
Industrial profit rose in May, although at a slower rate than in the previous month, data from
Eurozone economic confidence weakened unexpectedly in June from a 34-month high as the region struggles to lift its growth momentum in the second quarter, with deterioration in industry, construction and consumer confidence. The economic sentiment index fell to 102 in June from a revised 102.6 in May, a survey by the
On a monthly basis, overall house prices gained 0.4 versus 1.2 rise in April. This was the second consecutive monthly increase.
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