Gold Marks First Weekly Loss In 5 Weeks

By Myra P. SaefongMarketsMarketWatch Pulse

Gold prices settled lower Friday to a tally a loss of 0.7% for the week. Gold fell as the dollar strengthened against the pound and the euro, in particular, in the wake of the U.K. general election, which saw the Conservative Party lose its parliamentary majority. The precious metal marked the first weekly loss in five weeks. August gold fell $8.10, or 0.6%, to settle at $1,271.40 an ounce, for the lowest finish since June 1, according to FactSet data.

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