Gold Futures Fall For a Fifth Straight Week

Gold futures on Friday logged losses for the session and the week to settle at their lowest level since February of 2010. Recent strength in the U.S. dollar and expectations for a U.S. Federal Reserve interest rate hike this year are among the reasons gold has dropped roughly 6.8% month to date. August gold shed $8.60, or 0.8%, to settle at $1,085.50 an ounce for the Comex session. That was the lowest settlement for a most-active contract since February 2010 and prices marked a fifth weekly loss in a row.