Daily Gold Update

Source: Marketwatch

New York— Gold futures fell Friday, reducing weekly gains as a rebounding dollar curbed its investment appeal. December gold futures ended down $2.20, or 0.2%, to $1,056.40 an ounce on the Comex division of the New York Mercantile Exchange. The thinly traded October contract lost $2.20, or 0.2%, to $1,055.60.

Despite the losses, both contracts rose 0.5% this week, a fourth weekly gain. In currencies, the U.S. dollar rebounded from its 14-month low, with the dollar index up 0.4%. Gold fell "on the back of a stronger dollar," said James Moore, an analyst at TheBullionDesk.com. "Gold will look to hold the current $1,040 to $1,065 range as players continue to look to the dollar and broader risk sentiment for direction." See full story.