29.06.201814:00:00UTC+00Gold Steadies, May Have Bottomed

Gold futures rose Friday, snapping a four-day losing skid as traders weighed a flurry of economic news from around the globe.

After hitting a 7-month low, gold for August rose $3.60 to $1254.60 an ounce.

Personal income in the U.S. increased in line with economist estimates in the month of May, although the report also showed weaker than expected growth in personal spending.

The report said personal income climbed by 0.4 percent in May after edging up by a downwardly revised 0.2 percent in April.

In Europe, a last-minute deal on immigration may have saved Angela Merkel's government in Germany.

Meanwhile, Eurozone inflation rose to 2 percent in June, in line with forecast, and up from 1.9 percent in May on food and energy prices. The European Central Bank targets 'below, but close to 2 percent.