Gold for April delivery, the most actively traded contract, gained $6.40 or 0.5 percent to settle at $1,227.10 an ounce on the Comex division of the New York Mercantile Exchange on Friday. Gold for April delivery scaled an intraday high of $1,234.90 and a low of $1,222.50 an ounce.
Gold futures ended higher for a second straight session on Friday, as the dollar trended lower against some select currencies after some soft economic data from the U.S., following the disappointing U.S. retail sales and unemployment claims data yesterday. For the week, gold futures dropped about 0.6 percent.
In some soft economic news from the U.S., a University of Michigan report on Friday showed an unexpected, sharp pullback on its U.S. consumer sentiment index in February, after having reported the index at an eleven-year high in the previous month.
Holdings of SPDR Gold Trust, the world`s largest gold-backed exchange-traded fund, edged down to 771.51 tons on Friday, from its previous close of 773.31 tons.
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