Data showing that the U.S. trade deficit fell to its lowest level in two years during December sent gold modestly lower in Friday trading. The precious metal posted a small weekly loss as investors contemplated signs of a stronger American economy and rising Chinese exports. The dollar rose against most major currencies.

Gold futures for March delivery sank about 0.3% to $1,666.20 on Friday, according to CME Group. Gold traded as high as $1,672.20 and as low as $1,665.20. Gold bullion closed in London at $1,671, according to BullionVault.

Silver futures for March delivery rose fractionally to $31.44 per ounce. Friday’s high for silver was $31.70 an ounce, while the low was $31.33.

Gold and silver funds retreated in Friday trading.

• The SPDR Gold Trust (NYSE:GLD) edged down 0.2%.
• The iShares Gold Trust (NYSE:IAU) also dipped 0.2%.
• The iShares Silver Trust (NYSE:SLV) declined 0.1%.

Gold and silver mining ETFs moved lower during the day.

• The Market Vectors Gold Miners ETF (NYSE:GDX) slipped 0.6%.
• The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) fell 0.4%.
• The Global X Silver Miners ETF (NYSE:SIL) sank 0.1%.

Gold mining shares mostly pulled back on Friday.

• Agnico-Eagle Mines (NYSE:AEM) dropped 0.4%.
• Barrick Gold (NYSE:ABX) was flat.
• Eldorado Gold (NYSE:EGO) fell 1.2%.
• Goldcorp (NYSE:GG) dipped 0.1%.
• Kinross Gold (NYSE:KGC) slid 1.5%.
• Newmont Mining (NYSE:NEM) fell 0.7%.
• NovaGold Resources (AMEX:NG) was unchanged.
• Yamana Gold (NYSE:AUY) declined 1.4%.

Silver mining shares were mixed.

• Coeur d’Alene Mines (NYSE:CDE) rose 1.2%.
• Hecla Mining (NYSE:HL) was flat.
• Pan American Silver (NASDAQ:PAAS) rose 0.3%.
• Silver Wheaton (NYSE:SLW) fell 0.8%.
• Silver Standard Resources (NASDAQ:SSRI) gained 0.4%.

As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault contributed to this report.