Economic news

Gold slips, set for narrow decline for the week

Gold futures fell for a second session in a row on Friday, on course to post their first weekly loss in three weeks, as jump in the dollar weighed on the metals market.

June gold contract edged down 0.8% to $1,337.60 an ounce. The futures lost near 1.6% since touching a 2 1/2-month peak of $1,360 as recently as April 11. May silver dropped 0.6%, to $17.145 an ounce, sliding from 2 1/2-month top, touched on Thursday.

The greenback firmed on Friday, which hit dollar-denominated precious metals. The ICE U.S. Dollar Index DXY added 0.5% to 90.40.

Wall Street opened lower on Friday, as traders focused on rising bond yields and fresh flurry of corporate news.

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