Gold futures settled sharply lower on Friday, even as both stocks and the dollar, which typically move inversely to precious metals, slumped on the back of waning confidence for economy-boosting tax reform. Market participants also speculated about a sizable intraday sales that helped add to selling pressure in the commodity. December gold finished down $13.30, or 1%, at $1,274.20 an ounce, but booked a weekly gain of about 0.4%, according to FactSet data, marking its first weekly rise in that past four weeks.
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From:: Stock Market News