Gold futures log worst weekly loss of 2016

Gold futures marked their third straight weekly loss, and the worst of 2016, on Thursday as shifting expectations for a Federal Reserve interest-rate increase supported the dollar at the expense of metals.

Gold futures for April delivery GCJ6, -0.49%  fell $2.40, or 0.2%, to settle at $1,221.60 an ounce, the lowest finish since late February. June gold GCM6, -0.51% which is also among the most-active contracts, ended at $1,223.50, down $2.10, or 0.2%.

The market will be closed Friday for Good Friday observance ahead of Easter. Gold prices were down 2.6% for the holiday-shortened week, after posting losses in each of the past two weeks, according to FactSet.

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