Gold falls for the day, edges up for the week; palladium settles at a record

Gold declined Friday as stronger-than-expected data on U.S. jobs contributed to a rally in the U.S. stock market, but it still managed to edge slightly higher for the week. February gold GCG9, -0.71% fell $9, or 0.7%, to settle at $1,285.80 an ounce. For the week, prices rose about 0.2%, according to FactSet data. Palladium futures, meanwhile, settled at a record, with prices up more than 4% for the week. Growing demand for the metal for use in pollution-controlling catalytic converters in gasoline-powered vehicles has continued to feed worries about tight supplies. March palladium PAH9, +2.92% rose $34.10, or 2.8%, to $1,234.40 an ounce Friday.

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