Metals Stocks: Gold falls on upbeat U.S. economic data and posts a weekly loss

Gold futures fell Friday to settle at their lowest in more than two weeks, also down from the week-ago finish, on the back of a jump in U.S. consumer sentiment and a slightly firmer dollar.

“The risk-off tone is not delivering a strong bid for gold [Friday], and that is mainly attributed to the overall strength we saw with U.S. data this week and optimistic outlooks we saw on the corporate front,” said Edward Moya, senior market analyst at Oanda.

June gold GCM9, -0.69% on Comex lost $10.50, or 0.8%, to settle at $1,275.70 an ounce. Prices marked the lowest most-active contract finish since May 2, according to FactSet data.

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