Gold Market Update

Gold futures settled with a loss on Friday, putting an end to a seven-session stretch of gains that had lifted prices to their highest level in more than three weeks.

Prices rallied particularly strongly over the past two trading sessions as declines in global equities and turmoil in Yemen helped buoy safe-haven investment demand for the metal.

Gold for April delivery GCJ5, -0.56%  shed $5, or 0.4%, to settle at $1,199.80 an ounce Friday on Comex. During their seven-session climb, gold futures tallied a total gain of 4.9%. For the week, prices gained 1.3%.

May silver SIK5, -0.99%  settled down 7.1 cents, or 0.4%, at $17.069 an ounce, leaving it with a weekly gain of 1.1%.