Metals Stocks: Gold prices on track for lowest settlement of the year

Gold futures dropped on Friday, on track to mark their lowest finish of the year just a day after settling at their highest in about month, as the benchmark U.S. dollar index touched an 11-month high, weighing on assets pegged to the monetary unit.

August gold GCQ8, -1.99% dropped $21.20, or 1.6%, to $1,287.10 an ounce. Based on the most-active contract, prices settled Thursday at their highest in roughly a month. They were poised Friday to mark their lowest settlement since December.

“Despite some risk aversion in the marketplace [Friday], the gold market has instead chosen to focus on the recent strong rally in the U.S.

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