Gold ends Friday unchanged, breaks longest streak of weekly declines in four years

Gold futures finished steady Friday, as investors turned to Treasurys and the U.S. dollar for safety to end a turbulent week on Wall Street, but gold posted the first weekly gain in a month

Gold for June delivery edged $0.90 higher, or less than 0.1%, to settle at $1,842.10 an ounce on Comex, after flipping between small gains and losses. It jumped 1.4% Thursday for the best daily percentage rise for the most-active contract since April 12. The yellow metal also booked a 1.7% weekly advance, breaking a string of four consecutive weekly declines, its longest stretch since Aug. 17, 2018, according to Dow Jones Market Data.

July silver shed 23 cents, or 1.1%, settling at $21.674 an ounce. The most-active contract rose 3.3% for the week, its biggest weekly percentage gain since April 14, according to Dow Jones Market Data.

The SPDR Gold ETF (GLD) shed $1 billion in funds for the week, according to Refinitiv Lipper data.

Gold “carries a liquidity premium and in a ‘sell everything’ environment, some investors often sell what they can to meet redemptions or margin calls,” a weekly World Gold Council report said, while pointing to the sector’s sharp ETF outflows.

In other metals trade, July copper fell 0.2% to settle at $4.275 a pound.

July platinum shed 1.3% to close at $941.10 an ounce, while June palladium slumped 2% to end at $1,939.70 an ounce.