Metals Stocks: Gold stabilizes but on track for 6th straight weekly loss


Gold futures gained on Friday, rebounding from their lowest levels in more than 10 months, but stayed on track to suffer a sixth straight weekly loss.

Gold prices on Thursday settled at their lowest since early February as investors instead piled in to the dollar, stocks and oil. Bond selling largely continued, driving up the yields that undermine the attractiveness of holding nonyielding gold.

Gold hit that multimonth price low as the first U.S. interest-rate hike in a year announced midweek—and the prospect of a more-aggressive Federal Reserve in 2017—sent the buck surging and weighed on precious metals that are pegged to the dollar’s value.

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