Gold Falls on Janet Yellen Speech, Palladium Gains on Emissions Scandal – Wall Street Journal

Gold edged down Friday after U.S. growth estimates were nudged higher and Federal Reserve Chairwoman Janet Yellen said a rise in U.S. interest rates is likely to happen later this year.

The tandem developments sent signals of an improving U.S. economy, and stocks and the dollar rose. Gold, a defensive investment that people look to in times of turbulence, loses appeal under improving conditions. Gold futures for the most-actively…