Gold Records First Gains in Four Weeks

Gold prices declined on Friday, as the U.S. Dollar (USD) returned to the positive territory scoring some gains against major currencies.

However, the yellow metal was able to register weekly gains, supported by the prospects of increased government stimulus spending the United States.

Gold futures for February delivery declined by $9.70, or 0.5%, to end the last session of the week at the level of $1,856.20 per ounce, shrugging off some of its losses earlier today.

For the week, gold futures rose by 1.4%, ending a three-week losing streak for the most active contracts.

This the largest weekly gain for the yellow metal futures since December 18, 2020.