NEW YORK(BullionStreet): Gold ended the week with more than 5 percent lose after started the week with its biggest-ever daily loss in dollar terms on Monday.
Gold for June delivery rose $3.10 to $1,395.60 per ounce. The precious metal has had a wild few weeks.
It started sliding last week, in a panic that culminated Monday when it plunged 9 percent. It was gold's biggest drop since 1983.
Traders cautiously returned to buying certain key commodities Friday, including gold and oil, after big sell-offs earlier this week.
At the beginning of the week, investors disagreed on the reason for the plunge. By the end of the week, there was still no consensus.
Some said it was because gold investors think the economy is improving, so they have less reason to hold gold as safe-haven investment.
Others said investors were actually quite worried about the economy, concerned that cash-strapped Cyprus might have to sell its gold reserves.
Others said the plunge was simply short-term traders cashing in profits May silver fell more than 1 percent on Friday, down 28.5 cents to $22.96 per ounce.
July copper fell almost 2 percent, down 5.6 cents to $3.163 per pound. July platinum slipped $5.10 to $1,423.90 per ounce. June palladium was up more than 1 percent, up 7.25 cents to $677.05 per ounce.
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