Gold futures edged higher in electronic trading on Friday, but remained on track to post a loss for the week.
Gold for June delivery added $3.30 , or 0.2%, to $1,644.70 an ounce on the Comex division of the New York Mercantile Exchange during Asian trading hours.
The metal is trading down 0.9% for the week, having broadly missed out on safe-haven flows at the expense of U.S. bonds and the dollar.
A stronger greenback also tends to discourage investment in gold, as it makes the commodity more expensive to holders of other currencies.
Still, a slightly weak dollar lent support during Asian trading, with the ICE dollar index (DXY) trading at 79.513, down slightly from 79.589 in late North American trading Thursday
The broader metals complex tracked gold higher, though silver declined, with May silver slipping 2 cents , or 0.1%, to $31.76 an ounce.
Copper for May delivery added 2 cents , or 0.5%, to $3.64 per pound.
July platinum gained $5.30 , or 0.3%, to $1,583.30 an ounce, while sister metal palladium for June delivery put on $3.60 , or 0.5%, to $666.85 an ounce.
- Virginia Harrison ; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
04-20-12 0133ET
