Gold futures settled lower on Friday, but held onto a modest gain for the week. The precious metal has been “consolidating after the recent run-up off the fourth-quarter lows,” said Adam Koos, president at Libertas Wealth Management Group. The pullback Friday was likely due to a combination of profit taking, combined with concerns about the Federal Reserve’s decision next week, and next month, on interest rates, as well as inflation numbers also due next week, he said. Gold for August delivery
GCQ23,
fell $1.40, or nearly 0.1%, to settle at $1,977.20 an ounce on Comex. Prices based on the most-active contracts gained 0.4% for the week, according to Dow Jones Market Data.
