Gold Ends Lower, But Manages Weekly Gain

Gold futures finished lower Friday, a day after Federal Reserve Chairwoman Janet Yellen said she expects an interest-rate hike in 2015. But the yellow metal managed a weekly gain of about 0.6%. The prospect of an interest rate hike sometime this year dulls the appeal of gold because it doesn't bear interest. Higher rates also boost the dollar , which can make the dollar-denominated asset less attractive to buyers in other currencies. December gold closed $8.20, or 0.7%, lower at $1,145.60 an ounce.