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Gold Ends Week With Modest Gain

Gold prices were flat Friday, holding most of the gains from the previous session as U.S. stocks experienced a quiet session.

June gold was down $1.60, or 0.1%, at $1,320.80/oz., but posted a weekly gain of 0.5%.

A weaker dollar helped gold stay near yesterday's 2-week high.

In economic news, consumer sentiment in the U.S. unexpectedly held steady in early May, according to a report released by the University of Michigan on Friday.

The report said the preliminary reading on the consumer sentiment index for May came in at 98.8, unchanged from the final April reading. Economists had expected the index to edge down to 98.5.

Import prices in the U.S. increased by less than expected in the month of April, according to a report released by the Labor Department on Friday, although the report also showed stronger than expected export price growth.

Import prices rose by 0.3 percent in April after edging down by a revised 0.2 percent in March.

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