Gold futures end higher
Gold futures ended up slightly higher on Friday, but finished down 0.2% for the week, while oil was trading higher in the afternoon following a reversal of course.
December gold settled up 20 cents at $1,619.40 an ounce, down slightly earlier as it was pressured from a stronger dollar.
The yellow metal is expected to be volatile, according to some analysts, until some real stimulus in western economies materializes.
Thursday, gold prices gained on a weaker dollar as the euro gained after comments from German Chancellor Angela Merkel, who said that her nation remains committed to the euro, and the European Central Bank's efforts to resolve the debt crisis.
News reports Thursday also said Spain is preparing to ask for an emergency slice from the 100 billion euro bank bailout announced in June.
Meanwhile, oil for September delivery was lately up 63 cents to $96.23 a barrel, supported by US economic data and higher equities.
On the economic front, the University of Michigan-Thomson Reuters consumer-sentiment index rose to a preliminary August reading of 73.6 from a final July reading of 72.3. Separately, the Conference Board said its leading economic index grew 0.4% in July.
But earlier, oil was lower after Reuters said late Thursday the White House is "dusting off old plans" to release some stocks from the US Strategic Petroleum Reserve. The report cited anonymous sources.
