Prices end on mixed mode on weekly basis
Bullion prices took a hit on Friday, finishing lower after the Federal Reserve's Janet Yellen said she expects an interest-rate hike in 2015.
December gold fell $8.20, or 0.7%, to $1,145.60 an ounce on Comex, for a weekly gain of 0.7%. December silver shed 2 cents, or 0.1%, to $15.11 an ounce, down 0.3% on the week.
Fed Chairwoman Yellen said Thursday after the U.S. markets closed that she anticipates an initial increase in the federal-funds rate later this year, followed by a gradual pace of tightening thereafter. Market have said that higher interest rates can hurt gold because it doesn't pay interest, making it a less attractive investment. Plus, higher rates lift the dollar and a stronger greenback can weigh on dollar-denominated commodities as they become pricier for holders of other currencies. The dollar edged higher on Friday.
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