Gold ends three-week winning run; oil logs 2.1% weekly gain

CHICAGO (Aug 2)   Gold futures on Friday ended the week with a loss of 0.9 percent, the first weekly drop in four.

Prices finished the session with only a modest drop, finding some support from downbeat U.S. jobs data and a weaker dollar.

December gold slid 0.05 percent to settle at $1,310.50 an ounce on the Comex division of the New York Mercantile Exchange.

U.S. payrolls increased by 162,000 last month, less than an estimated 185,000. It was the smallest advance in four months. The jobless rate skidded to 7.4 percent from 7.6 percent.

The U.S. data also dragged on oil prices on Friday.

Crude for September delivery declined 0.9 percent to finish at $106.94. The contract scored a 2.1 percent gain on the week.