Gold futures settle at lowest in more than a week

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Gold futures on Friday marked their lowest finish in more than a week. The “huge spike move” in the U.S. dollar affected gold prices on Friday, said Adam Koos, president at Libertas Wealth Management. The ICE U.S. Dollar index
DXY,
+0.55%
traded as high as 96.239, the highest since July 2020, putting pressure on dollar-denominated prices for gold. December gold
GCZ21,
-0.78%
fell $9.80, or 0.5%, to settle at $1,851.60 an ounce. Based on the most-active contract, prices settled at their lowest since Nov. 10 and lost roughly 0.9% for the week, FactSet data show.

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