Gold futures finished Friday slightly higher, but posted a weekly loss of more than 1%. For the week, gold has been under renewed selling pressure “largely thanks to the strengthening U.S dollar and rising Treasury yields,” said David Russell, chief executive officer of GoldCore. “Improved U.S. data and comments from FOMC members that suggested rates could stay higher for longer fed more fuel to this dynamic.” December gold GCZ23 climbed by 20 cents, or less than 0.1%, to settle at $1,942.70 an ounce on Comex. Prices based on the most-active contract ended the week 1.2% lower, according to Dow Jones Market Data.
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