Gold Returns to Weekly Losses

Gold prices rose on Friday, supported by weak employment data in the United States and the anticipation for the passing of a new $1.9 trillion relief bill.

In addition, the decline of the U.S. Dollar (USD) across the board helped provide support for gold.

Today’s rise helped the yellow metal futures reduce their weekly losses, which follows just one week of gains that ended a six-week declining streak.

Gold futures for April delivery added $21.80, or 1.2%, to close the week at $1,813 per ounce.

On the weekly basis, gold’s most active contracts declined by about 2%.