Gold up 1% on Week after Fencing With US Yields, Dollar By Investing.com – Investing.com

Gold up 1% on Week after Fencing With US Yields, Dollar By Investing.com – Investing.com

By Barani Krishnan

Investing.com - Gold prices slid on Friday but still ended the week up 1% as the yellow metal emerged partially victorious from its fencing duels with U.S. bond yields and the dollar, which were sluggish most of the week from mixed readings on inflation.

on New York's Comex settled down $13.60, or 0.8%, at $1,744.80 an ounce. For the week, however, it rose 1.05%.

The of gold was down $12.67, or 0.7%, at $1,742.95 by 3:00 PM ET (19:00 GMT). For the week, spot gold was up 0.8%. Moves in spot gold are integral to fund managers, who sometimes rely more on it than futures for direction.

Both spot and gold futures broke above $1,750 on Thursday, smashing the key resistance the first time in six weeks, as bond yields and the dollar retreated from their recent highs.

On Friday, the benchmark yield on the U.S. hovered at 1.66% versus its 14-month high of 1.77% hit on March 30.

The , which pits the greenback against the and five other major currencies, was at 9216, versus the 93.13 level it scaled on.

Technical charts for both Comex and spot gold indicate a potential return to $1,800 pricing if the yellow