Gold prices fell to a four-week low Friday as appetite for riskier investments improved after Donald Trump's victory in the U.S. presidential election, damping demand for haven assets.

Gold for December delivery was recently down 1.2% at $1,251.00 a troy ounce on the Comex division of the New York Mercantile Exchange, on track for its fifth straight day of losses. The drop took gold prices to the lowest level since Oct. 14.

The Wall Street Journal Dollar Index, which weighs the dollar against a basket of other currencies, was up 0.1% on Friday morning. As gold is priced in dollars, it becomes more expensive for holders of other currencies as the dollar appreciates.