Gold futures log first weekly rise since May

Gold futures climbed on Friday to tally a gain for the week, marking the first weekly climb for prices in four weeks. Prices got a boost as traders mulled separate data showing a monthly rise in a key measure of U.S. inflation, but no changes to consumer spending. The gold market has also been turning its attention to new rules that become effective on Monday for European banks related to liquidity. August gold rose $1.10, or nearly 0.1%, to settle at $1,777.80 an ounce. Based on the most-active contract, prices rose 0.5% for the week, following three-consecutive weekly declines, FactSet data show.

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