Gold Closes Lower to Narrow Weekly Rise

Gold prices decreased on Friday, limiting its fourth consecutive weekly rise, amid fluctuations by the U.S. (USD) that seem to be struggling for direction after the recent remarks by the Federal Reserve Chair Jerome Powell relatively eased concerns about the recent surges in inflation.

Gold futures front-month contracts for July delivery lost $13.90 or 0.76% today, but gained $4.50 over the course of the week, or 0.25%, to close at $1,814.50 per ounce.

Today’s decline came after a three-session rising streak.

Month-to-date, gold futures are up by about 2.47%.