Dollar Rebound Slams Gold Prices, Ending Five-Day Losing Streak

Gold prices fell on Friday as the dollar recovered ground against the yen after Japan's apparent intervention in the foreign-exchange market stalled.

The US currency snapped a five-day run of losses, with the Bloomberg Dollar Spot Index declining for its fifth consecutive session. However, it rebounded as the Bank of Japan kept its policy settings unchanged and Governor Kazuo Ueda offered little support for the yen.

The intervention-driven rally in the yen had helped push the dollar lower earlier this week, but its reversal has reduced the appeal of gold to international buyers. The yellow metal declined toward $4,050 an ounce, which is still on track for a narrow monthly gain in July, its first since February.