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Gold ends higher: IAMGOLD Corp (IAG), Barrick Gold Corporation (ABX), Agnico Eagle Mines Ltd (AEM)

Gold settled an hour earlier, at 12:30 p.m. Eastern time. Global markets are closed on Friday for Christmas.

February gold GCG6, +0.70%  gained $7.60, or 0.7%, to settle at $1,075.90 an ounce, and registered a 1% gain—its best weekly advance since the week ended Dec. 4, according to FactSet data.

As measured by the ICE U.S. Dollar Index DXY, -0.51% a gauge of the greenback’s strength against a basket of six rival currencies, the dollar retreated Thursday afternoon in New York, down 0.4%.

A weaker dollar makes dollar-denominated assets more attractive to buyers using other currencies.

Gold has climbed about 1% since the Federal Reserve raised benchmark interest rates last week. The U.S. central bank’s attempt to put an end to abnormally low rates is a headwind for precious metals given that they don’t offer yield.

But some investors believe that rate-hike-fueled selling of gold ahead of the Fed’s decision might draw bidders.

George Milling-Stanley, head of gold investments at State Street Global Advisors STT, -0.03% said he was sanguine about the yellow metal’s prospects.

“I think the good reaction to that interest-rate hike has taken people by surprise and I think that bodes well for the future of gold” said Milling-Stanley.

The State Street official said a bump higher in crude-oil prices CLG6, +1.65% might also support precious metals. Higher crude-oil prices may push up inflation, which has been kept in check by commodity prices over the past year. Investors tend to gravitate to gold as a hedge against inflation.

“Anything that comes along that looks like it might be potentially lift [inflation]” is a positive, Milling-Stanley said.

Meanwhile, March silver SIH6, +0.65%  gained 9.2 cents, or 0.6%, to finish at $14.379, with a weekly gain of about 2%.

IAMGOLD Corp (USA) (NYSE:IAG) closed at $1.47, up 2.08% from previous close and at a distance of -0.37% from 20-day simple moving average. Over the last 12 months, a return on equity of -10.90 percent was realized due to the financial situation and earnings per share reached a value of $ -0.71. Earnings are projected to move down 21.62 percent for the coming five years.

Barrick Gold Corporation (USA) (NYSE:ABX) share price increased in the last trading session with a previous 52-week high of $13.56.The stock traded at a volume of 5,990,081 shares at a price profit of 2.09% .The share price is now up 19.35% for the past three months. Latest closing price was 4.23% above  its 50-day moving average and -14.61% below its 200-day moving average.

Agnico Eagle Mines Ltd (USA) (NYSE:AEM) climbed 1.95% at the end of recent close. Its previous 52-week high was $34.58 trading at a volume of 684,815. Shares have fallen -6.09% over the trailing 6 months. The stock is currently trading 0.07% above its SMA 50 and -1.07% below its SMA 200.