Gold futures gain, but still fall nearly 1.7% for the week

Gold futures scored a gain on Friday, but still suffered a loss for the week—the first in three weeks—pressured by overall strength in the U.S. dollar.

Some of the latest U.S. economic data may raise the probability of higher interest rates, which also tend to pressure prices for the precious metal.

Gold for June delivery GCM6, +0.87%  added $1.50, or 0.1%, to settle at $1,272.70 an ounce, after trading between a high of $1,277.70 and low of $1,264 Friday. The contract saw a nearly 1.7% weekly decline, which was the first loss since the week ended April 22.

July silver SIN6, +1.36% tacked on 2.9 cents, or 0.2%, to end at $17.132 an ounce. It saw a 2.3% weekly drop.

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