Gold futures on the COMEX division of the New York Mercantile Exchange rose on Friday as the U.S. dollar fell.
The most active gold contract for August delivery rose 50 cents, or 0.03 percent, to close at 1,830.3 U.S. dollars per ounce.
Gold posted a loss of 0.6 percent for the week.
Economic data released on Friday are mixed. The University of Michigan (UM) consumer sentiment index fell to 50.0 in the June 2022 survey, down from 58.4 in May and below last June’s 85.5, supporting gold.
U.S. Commerce Department reported that U.S. new home sales jumped 10.7 percent to an annual rate of 696,000, seasonally adjusted, recovering most of the sharp retreat in April.
Speaking Friday during a panel discussion on central banks and inflation hosted by UBS in Zurich, Switzerland, St. Louis Fed President James Bullard said rapid rise in interest rates now is the best way to avoid recession later. While a recession is “certainly possible, I actually think we’ll be fine,” he said.
Silver for July delivery rose 8.3 cents, or 0.39 percent, to close at 21.125 dollars per ounce. Platinum for July delivery fell 70 cents, or 0.08 percent, to close at 903.7 dollars per ounce.