Investing.com - Gold and silver futures ended Friday’s session higher, as investors returned to the market to seek cheap valuations after prices fell to the lowest level since September 2010 earlier in the day.
Sentiment on the precious metals was dampened amid expectations the Federal Reserve will begin to taper off its bond-buying program by the end of this year.
On the Comex division of the New York Mercantile Exchange, gold futures for August delivery rose 0.75% on Friday to settle the week at USD1,295.55 a troy ounce.
Earlier in the session, Comex gold prices fell to a daily low of USD1,268.75 a troy ounce, the weakest level since September 16.
For the week, gold prices lost 6.8%, the worst weekly decline since September 2011.
Gold futures were likely to find support at USD1,246.20 a troy ounce, the low from September 14, 2010 and near-term resistance at USD1,310.10, the high from September 28, 2010.
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