Gold Settles Lower, Logs Its 5th Weekly Loss In a Row

Gold futures finished modestly lower on Friday after the precious metal succumbed to pressure from a strong dollar, marking its fifth consecutive weekly decline. December gold closed $1.60, or 0.1%, lower to settle at $1,076.30 an ounce. The yellow metal posted a weekly loss of 0.4%, marking its fifth weekly loss in a row. Friday's moves come as the dollar was gaining strength on the back of comments from European Central Bank President Mario Draghi, who hinted at more stimulus in Europe, which dragged the euro lower and boosted the greenback.