Gold futures fell on Friday, threatening to put an end to a seven-session streak of gains that had carried prices up to their highest level in more than three weeks.
Gold for April delivery shed $11.90, or 1%, to $1,192.90 U.S. an ounce on Comex.
During their seven-session climb, gold futures tallied a total gain of 4.9%. For the week, prices were poised for a gain of 0.8%.
May silver was down 23.5 cents, or 1.3%, at $16.905 U.S. an ounce, ready for a weekly gain of 0.2%.
A day earlier, gold futures pushed past $1,200 U.S. as investors backed away from riskier assets amid broad declines in the equity markets and ramped-up tension in the Middle East..
Gold didn’t have much reaction to data Friday, which showed that the U.S. economy slowed in the final three months of the year, as fourth-quarter growth remained at 2.2%.
The U.S. ICE dollar index on Friday was little changed following the GDP report.
Other metals weakened along with gold and silver. May copper dropped three cents, or 1.8%, to $2.762 U.S. a pound — about flat for the week. April platinum fell $12.40, or 1.1%, to $1,141.60 U.S. an ounce, trading nearly unchanged from the week-ago settlement. June palladium gave up $22.90, or 3%, to $750.45 U.S. an ounce, losing around 3.6% for the week.
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