2015.04.2407:59:00UTC+00Gold Stuck Below $1200 On Rate Hike Outlook

Gold prices were down a bit Friday morning as the U.S. dollar firmed against the struggling euro.

The safe haven appeal of the precious metal has been diminished of late due to rising stocks. Speculation that the Federal Reserve will soon raise interest rates has also weighed.

U.S. gold for June was down $7 at $1186 an ounce, having bounced around that mark for the past few weeks.

Silver edged up to $15.90 an ounce from $15.74.

On the economic front, the Commerce Department is scheduled to release its durable goods orders report for March at 8:30 am ET. Economists expect durable goods order growth of 0.5 percent month-over-month, while excluding transportation, orders may have risen 0.3 percent.

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