Gold on track for second weekly loss

Gold prices fell on Friday after scoring gains yesterday, with the precious metal heading for its second consecutive weekly loss as demand wanes on safe havens.

Gold last traded at $1,324.8 an ounce, down from the opening price of $1,332.0, with a session-high at $1,333.4, and a three-week trough at $1,321.0. 

Gold's decline comes amid lower demand on the safe haven in the markets as investors seek riskier and more rewarding assets to invest in. 

The dollar on the other hand returned higher against a basket of major rivals, weighing negatively on gold's trading and slimming chances of a rise as they go usually in opposite ways. 

The dollar index, gauging the U.S. currency's performance against a basket of six major rivals, last traded at 97.10, compared to thee opening of 96.83, with an intraday high at 97.16, and a one-week trough at 96.81, as investors take refuge in U.S. treasury bonds, while the dollar draws support from recent upbeat data.