Gold futures ended higher Friday, recovering some of the week's heavy losses and breaking a four-day losing streak, as fire-sale prices enticed buyers. Gold for February delivery rose $20.70 an ounce, or 1.3 percent, to $1,597.90 on the Comex division of the New York Mercantile Exchange. Some bottom fishing after gold lost nearly $140 in the past four sessions was at play, said Charles Nedoss, a senior market strategist with Olympus Futures in Chicago. At the same time, however, gold lacked impetus to go above $1,600 an ounce, he said. Gold is likely to go higher next week as the dollar is expected to lose more ground, barring any negative headlines from Europe, Nedoss added. Safe-haven continued to be absent. “In the short term, gold's function as safe haven is in really shaky shape,” he said.
