Gold above $1,600 as Europe bank plan fuels rally
SAN FRANCISCO (MarketWatch) -- Gold futures ended 3.5% higher on Friday as investors cheered Europe's bank plan and the dollar weakened. Gold for August delivery advanced $53.80 to settle at $1,604.20 an ounce on the Comex division of the New York Mercantile Exchange. On the week, gold gained 2%; quarterly results, however, weren't as exciting. The metal ended the March-June period down 4%.