Gold Could Lose for First Time in Weeks

Goldprices fell on Friday and was set for their first weekly loss since May on improving global risk sentiment and a stronger dollar after better-than-expected U.S. data.

June retail sales rose 0.6%in June, compared to an expected 0.1%rise.

But European equities fell after an attack by a gunman at the wheel of a truck in the south of France killed at least 84 people.

Spot gold eased 0.4% to $1,329.50 U.S. an ounce. It fell to its lowest since June 30 in the previous session. U.S. gold fell 0.2% to $1,329.90 an ounce.

After six weeks of gains, the longest rally since March 2014, the metal has come under pressure this week, down 2.5% so far. It was hit by strong U.S. non-farm payrolls data and as uncertainty around the implications of Britain's Brexit vote eased with the formation of a new government.

In other precious metals news, spot palladium hit a peak it hadn't seen since early November at $652 U.S. an ounce.

Spot silver was down 1% at $20.10 U.S. an ounce. It was marginally lower for the week, and near its first weekly loss in seven.

Spot platinum slipped 1.5% to $1,082.80 U.S.

Related Stories