Gold closed marginally lower Friday, logging it biggest weekly drop this year as the U.S. dollar recovered from its earlier weakness. April gold fell $2.40 or 0.2%, to settle at $1,330.30 an ounce, falling 1.7% for the week, while March silver lost 10 cents, or 0.6%, to $16.48 an ounce, posting a weekly decline of 0.8%. The dollar stabilized on a belief that investors will continue to bid up the buck in anticipation of the Federal Reserve raising interest rates which tend to result in the currency strengthening. The ICE U.S. Dollar Index edged up 0.1%.
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