Gold Settles Higher, But Loses 2.2% For The Week

Gold futures finished higher on Friday but suffered a 2.2% loss for the week, their biggest weekly decline since the week ended July 24. The dollar strengthened this week, putting pressure on the metal as the market weighed prospects for an interest-rate hike this year by the Federal Reserve. December gold climbed $11.40, or 1%, for the session to settle at $1,134 an ounce on Comex after declines over the past four sessions.