Bullion prices ended lower at Comex on Friday, 14 June 2019. Gold futures gave up much of their earlier gains on Friday, with strength in the U.S. dollar prompting prices for the precious metal to post only a modest gain for the session, down significantly from their highest intraday level in 14 months.
Gold for August delivery climbed 80 cents, or nearly 0.1%, to settle at $1,344.50 an ounce. Most-active contract prices settled at their highest in a week, but were still 0.1% lower than last Friday's settlement of $1,346.10. Prices had climbed to as high as $1,362.20 during Friday's session, which was the highest intraday since April 2018.
July silver which serves as both a haven asset and has industrial purpose, fell 8.9 cents, or 0.6%, to $14.803 an ounce, ending around 1.5% lower for the week.
Prices eased back from the session's best levels with the dollar on track for a gain on the week, putting some pressure on dollar-denominated gold prices. The ICE U.S. Dollar Index rose 0.6% on Friday, set for a weekly rise of 1.1%. Strong gains in the U.S. dollar were to blame for gold's pullback from the session's highs.
Data on Friday showed that U.S. consumer sentiment in June declined on the back of concerns surrounding tariffs, to a reading of 97.9 from 100 in May. Retail sales data for May, however, was upbeat, with sales up 0.5%.