Gold Futures Settle With a Loss Of 1%

Gold futures settled sharply lower Friday as traders weighed the likelihood that upbeat U.S. economic data may give the Federal Reserve reason to raise interest rates. Gold for June delivery settled at $1,223.50 an ounce, down $12.10, or 1%. The settlement matched last week's ending price for the June contract, but based on last week's finish for the April contract, which was the most active at the time, prices rose about 0.2% for the week.