Gold futures settle lower, log weekly loss

Gold futures settled lower Friday and prices ended in negative territory, marking their fourth weekly decline in five.

The metal had spent much of the session trading higher as disappointing economic data from China and the U.S. helped to draw bidders in the yellow metal, but investors were wary as prices failed to hold ground above the key $1,350-an-ounce level.

December gold GCZ6, +0.15% fell $6.80, or 0.5%, to settle at $1,343.20 an ounce after tapping a high of $1,362.50. For the week, prices lost about 0.09%, according to FactSet data.

Silver for September delivery SIU6, +0.57%  shed 31.7 cents, or 1.6%, to $19.703 an ounce, with futures prices losing 0.6% for the week.

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