Gold futures on the COMEX division of the New York Mercantile Exchange fell on Friday but saw a weekly rise.

The most active gold contract for June delivery went down 1.60 dollars, or 0.12 percent, to settle at 1320.70 dollars per ounce.

The precious metal faced pressure as the U.S. Dow Jones Industrial Average continued to rise. It gained 39.01 points, or 0.2 percent as of 1647 GMT. When equities post gains, gold usually goes down, as investors are lured to stock market.

But on a weekly basis, gold futures climbed 0.46 percent, pushed up by weaker-than-expected inflation data.
The U.S. Department of Labor on Thursday released April Consumer Price Index (CPI) for all urban consumers, showing an increase of only 0.2 percent, below economists' expectation of 0.3 percent.

The latest inflation data even led to speculation that the Federal Reserve would take a more cautious approach when they decide on more interest-rate hikes later this year.

As for other precious metals, silver for July delivery fell 0.7 cent, or 0.04 percent, to settle at 16.752 dollars per ounce. Platinum for July was up 0.8 dollar, or 0.09 percent, to close at 925.90 dollars per ounce.