Gold futures rose on Friday as weakness in the dollar helped prices finish the week about 1% higher. The ICE U.S. Dollar Index was down 0.8%, poised for a loss of 0.9% for the week. The dollar softened and some “momentum and positioning for next week” may have given gold an “extra boost,” said Jeff Wright, chief investment officer at Wolfpack Capital. February gold rose $12.40, or 0.9%, to settle at $1,334.90 an ounce, marking the highest finish since Sept. 11, according to FactSet data. The weekly rise was also gold’s fifth in a row.
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