WASHINGTON (dpa-AFX) - Gold futures settled higher on Friday, with prices edging up after the dollar weakened against some major currencies.
The dollar index was down by about 0.2% at 96.44, with several members of the Federal Reserve suggesting that the balance sheet would be used a tool to combat potential headwinds in the labor market or pace of inflation.
However, the greenback's slide was just marginal thanks to continued optimism about U.S. and China agreeing on a trade in the foreseeable future.
Speaking at a conference in New York, the Federal Reserve Vice Chair Randal Quarles said that the central bank remains committed to its dual mandate of full employment and keeping inflation at a healthy level.
Gold futures for April ended up $5.00, or 0.4%, at $1,332.80 an ounce.
On Thursday, gold futures for April ended down $20.10, or about 1.5%, at $1,327.80 an ounce, suffering their biggest single-day loss in about six months.
Gold futures gained about 0.8% in the week, extending gains from previous week. Gold prices hit a ten-month high of $1,346.73 on Wednesday.
Silver futures for March ended up $0.113, at $15.914 an ounce, while Copper futures for March settled at $2.9515 per pound, gaining $0.0545 for the session.
Copyright RTT News/dpa-AFX