Gold futures tipped higher Friday as U.S. stock markets came under selling pressure, nudging investors into the perceived safety of the yellow metal. April gold closed 20 cents, or less than 0.1% higher, at $1,157.70 an ounce. For the week, gold gained 3.7%, marking its best weekly advance since Aug. 21. Gold had been dipping lower for most of Friday’s session after the U.S. employment report, which reignited the expectation for an interest-rate hike in March by the Federal Reserve. Higher rates are a headwind for precious metals, which don’t bear a yield.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News