Gold Futures Fall at the Close, Lose 0.7% on Week: Report
Gold futures fell at the close on Friday to mark their third weekly decline in a row, as investors scrutinized U.S. data on GDP and consumer sentiment, MarketWatch reported.
Gold for December delivery fell $1.10, or less than 0.1%, to settle at $1,711.90 an ounce on the Comex division of the New York Mercantile Exchange. Prices had been trading higher for most of the session, peaking at $1,719.90. Gold lost 0.7% for the week.
Gold rebounded from the day's lows ($1,701.40) as a modestly better-than-expected U.S. advance in the Q3 GDP showed "improved risk appetite, but the negative revision to October sentiment tempered enthusiasm somewhat," said Peter Grant, chief market analyst at USAGOL.
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