Gold prices fell sharply on Friday, even as the U.S. dollar weakened, as conflicting comments from the Trump administration on dollar policy fueled volatile trading for the yellow metal. Gold prices had settled Thursday at their highest since August 2016, as recent comments from Treasury Secretary Steven Mnuchin, who said a “weaker dollar is good for trade,” pressured the greenback. The dollar then rebounded Thursday afternoon when President Donald Trump said he wants to see a strong dollar–prompting a drop in gold, which is traded in the dollar. On Friday, the dollar weakened again, but that failed to offer a boost to gold in the wake of the conflicting comments. February gold lost $10.80, or 0.8%, to settle at $1,352.10 an ounce. It still rose about 1.4% for the week.
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