Gold futures gain, post first weekly rise in 6 weeks

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Gold futures climbed on Friday to settle at their highest price since July 13. The precious metal also gained for the week, breaking a streak of five consecutive weekly losses, buoyed by a retreat in the U.S. dollar. “Through July, we expect gold to continue to move inversely to the U.S. dollar but would expect traders to sell any rallies on expectations of persistent dollar strength into August and beyond,” said Andrew Schrage, CEO of Money Crashers. August gold GCQ22, +0.69% rose $14, or 0.8%, to settle at $1,727.40 an ounce. For the week, prices based on the most-active contract, climbed 1.4%, according to Dow Jones Market Data.

This article was originally published by Marketwatch.com. Read the original article here.

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