Gold futures settle at lowest in more than a week
Gold futures on Friday marked their lowest finish in more than a week. The “huge spike move” in the U.S. dollar affected gold prices on Friday, said Adam Koos, president at Libertas Wealth Management. The ICE U.S. Dollar index
DXY,
traded as high as 96.239, the highest since July 2020, putting pressure on dollar-denominated prices for gold. December gold
GCZ21,
fell $9.80, or 0.5%, to settle at $1,851.60 an ounce. Based on the most-active contract, prices settled at their lowest since Nov. 10 and lost roughly 0.9% for the week, FactSet data show.
