Gold futures settled lower after upbeat retail sales data on Friday, as the safe haven appeal of the bullion dulled after upbeat retail sales data of US and on stronger dollar. The yellow metal for the most active contract registered fifth consecutive weekly dip, about 2.2%.
Gold futures for August dipped by $2.20 or 0.10% to $1703.60 ounce on the Comex division of the New York Mercantile. While, spot gold shrunk by 0.3% to $1,704.99 per ounce.