Daily Gold Update

Source: MarketWatch

New York— Gold futures ended little changed Friday, after two days of sharp losses, as the U.S. dollar made gains against other major currencies. Gold for June delivery ended up 30 cents at $889.70 an ounce on the New York Mercantile Exchange. Gold posted a drop of $25.50 from last Friday's closing level of $912.20 an ounce.

"Some bargain-hunting has provided temporary support, yet there is wariness that any change in Fed rate expectations could mark a broader shift in dollar sentiment, which may have a detrimental effect on commodities as a whole," said analysts at Action Economics. The Federal Reserve will convene policymakers to consider the U.S. economy and monetary policy next week, on April 29 and 30. The dollar was mostly higher Friday, holding onto gains against the euro even after a consumer sentiment index came in below expectations. See full story.