Gold ends lower, logs fifth weekly loss in a row

Gold futures finished modestly lower on Friday after the precious metal succumbed to pressure from a strong dollar, marking its fifth consecutive weekly decline.

December gold GCZ5, -0.52%  shed $1.60, or 0.1%, to settle at $1,076.30 an ounce, a day after the yellow metal saw its largest one-day gain in over a month. Gold prices were higher earlier Friday and on track to see a daily increase, but a strengthening buck quashed its advance.

European Central Bank President Mario Draghi’s hints that more stimulus might be on the way in Europe bolstered the dollar, weighed on the euro EURUSD, -0.2912% and lifted the greenback. The ICE U.S. Dollar Index DXY, +0.19% a measure of the buck against a basket of currencies, gained 0.6% early Friday.

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