Gold down slightly Friday, but up 1.48 percent for week

Gold futures on the COMEX division of the New York Mercantile Exchange fell on Friday as profit-taking caused the precious metal to fall despite a weaker U.S. dollar.

The most active gold contract for August delivery fall 3.60 U.S. dollars, or 0.28 percent, to settle at 1,294.80 dollars per ounce.

However, gold advanced 1.48 percent for the week.

Profit-taking was the feature of the day as traders sold gold contracts, putting pressure on the precious metal, even as the U.S. Dollar Index fell against other major currencies on Friday, according to analysts.

Analysts also noted that gold shed as fears of Britain's potential exit from the European Union receded as British politician Jo Cox was murdered.

"The unfortunate murder of the British (pro-remain) politician, Jo Cox, has caused an obvious suspension of the campaigning around the Brexit vote in the UK," said Stephen Guilfoyle, managing director at Deep Value, on Friday.

A report released by the Department of Commerce on Friday showed housing starts as-expected at 1.164 million, but also showed weakness in the permits segment of the measure. Analysts note that this kept gold from falling further but did not have a large enough impact to move it higher.

Silver for July delivery fell 19.60 cents, or 1.11 percent, to close at 17.411 dollars per ounce. Platinum for July delivery dropped 12.20 dollars, or 1.25 percent, to close at 966.10 dollars per ounce. Enditem