Gold futures stepped higher early Friday, bouncing back from the prior day’s dollar-driven dip, but they still showed a moderate drop for the week.
December gold GCZ5, +0.67% rose $6.80, or 0.6%, to $1,172.90 an ounce, while December silver SIZ5, +0.93% tacked on 14 cents, or 0.9%, to $15.98 an ounce.
On Thursday, gold futures settled 0.1% lower, as a dollar rally sparked by dovish European Central Bank comments quashed the metal’s attempt to move higher.
Despite Thursday’s weakness, “gold’s technical outlook remains optimistic in the near term,” said Matt Weller, senior market analyst at Forex.com, in a note late Thursday.
