Gold’s two-day streak helps trim weekly loss to 0.6%
MarketWatch - Feb 13, 2015
Gold futures settled higher for the second-consecutive day Friday, paring the precious metal’s loss for the week.
Gold for April delivery GCJ5, +0.68% gained $6.40, or 0.5%, to settle at $1,227.10 an ounce on Comex. Prices based on the most-active contracts were down about 0.6% on the week.
Gold on Thursday marked its first gain in three sessions, aided by a pullback for the U.S. dollar DXY, -0.04% after a disappointing U.S. retail sales report and a jump in weekly jobless claims. Dollar weakness tends to make dollar-denominated commodity prices less expensive for holders of other currencies.
The story for gold “will continue to be focused on the Greek negotiations with the [European Union], which will come to some form of conclusion on Monday,†said Peter Hug, global trading director at Kitco Metals Inc.
