Gold futures post a loss for second straight week

Gold futures settled Friday lower to tally a second straight weekly loss, as growing expectations for an increase of U.S. interest rates as soon as next month pushed prices to lowest level since late April.

June gold GCM6, +0.18%  fell by $1.90, or 0.2%, to settle at $1,252.90 an ounce, marking its lowest settlement since April 27. For the week, prices were down about 1.6%. They posted a fall of nearly 1.7% last week.

July silver SIN6, -0.01%  added 3.9 cents, or 0.2%, to $16.532 an ounce after ending the Thursday session at $16.49, its lowest since April 18. For the week, silver saw a loss of 3.5%.

The SPDR Gold Trust GLD, -0.13%  traded 0.1% lower Friday, but the iShares Silver Trust SLV, +0.13%  was up 0.4%. The VanEck Vectors Gold Miners exchange-traded fund GDX, +0.38%  climbed 0.2%.

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