Daily Gold Update

Source: MarketWatch

San Francisco— Gold futures closed higher Friday to score a gain of more than $8 an ounce for the week, following economic data that showed high energy prices fueled a sizable increase in U.S. consumer prices last month.

Gold for August delivery added $2.80 to close at $658.70 an ounce on the New York Mercantile Exchange. The benchmark contract ended with the week $8.40, or 1.3%, higher. And gold's strength will likely "show itself firmly," next week, said analysts at GoldForecaster.com, in a note to clients Friday. See full story.