Gold futures log back-to-back weekly losses

Gold futures settled lower Friday, posting losses for a second week in a row, with strength in the U.S. dollar and stock market in the wake of the latest earnings results, dulling some of the metal’s investment appeal.

August gold GCQ6, -0.44%  lost $7.60, or 0.6%, to settle at $1,323.40 an ounce, with prices logging a modest weekly loss of about 0.3%, after last week’s 2.3% drop, according to FactSet data. The metal touched a one-month low Thursday before ending that session higher.

The U.S. Dollar Index DXY, -0.05%  rose 0.5% and U.S. stocks traded mostly higher, but the Dow Jones Industrial Average DJIA, +0.29% was looking at a narrow weekly gain of less than 0.2% by the time gold prices settled Friday. Strength and weakness in the greenback and the stock market can impact gold’s appeal as a safe-haven investment.

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