Gold Market Update : Epic Research Singapore

Gold futures notched a gain Friday, but posted their first weekly drop in the three weeks as a flight to haven assets dissipated somewhat and as a weekly gain in the dollar pressured the yellow metal.

The U.S. ICE Dollar Index DXY, -0.25% a gauge of the buck against a basket of six rival currencies, gained 0.5% this week—its first weekly gain in three weeks, coinciding with moves for gold.

June gold GCM6, +0.76% settled $8.10, or 0.7%, higher at $1,234.60 an ounce. But the metal finished off about 0.8% on the week—its first weekly drop in three weeks.

Outshining the metal this week was silver SIK6, +0.51% which ended 14 cents, or 0.9%, higher at $16.31 an ounce. The precious metal logged a nearly 6% climb for the week, marking the gray metal’s best weekly gain in about a month.

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