Gold futures edged lower Friday, with a stronger U.S. dollar trumping a further wave of risk aversion as global equities declined, taking a cue from a sharp selloff in U.S. stocks a day earlier.
December gold futures fell $3, or 0.2%, to $1,222.30 U.S. an ounce. December silver dropped nearly 15 cents, or 0.8%, to $17.27 U.S. an ounce. Gold is on track for a 2.5% weekly rise.
Gold hiked Thursday as U.S. stocks tumbled in a move investors tied to a range of reasons, including worries about global growth and longstanding expectations the Federal Reserve will begin raising interest rates next year.
Meanwhile, the greenback rose, with the ICE dollar index a measure of the U.S. dollar against a basket of six rivals, gaining 0.4%. A stronger dollar can weigh on commodities priced in the unit by making them more expensive to users of other currencies.
