Gold Maintains Upward Trend for Second Week with Modest Gains

Gold prices settled marginally higher on Friday, maintaining their second consecutive weekly rise despite the U.S. Dollar (USD) maintaining a mostly upward trend with some fluctuations.

Gold front-month future contracts for August delivery rose by 80 cents or 0.04% to settle at $1781 an ounce.

This marked the first rise in gold prices in four sessions.

For the week, the yellow metal futures added 0.33%.

Meanwhile, silver futures lost 11.50 cents or 0.50%, increasing its weekly drop to 2.79%, as it settled at $23.105 per ounce with the fourth consecutive weekly loss and the biggest since November 2020.