Gold futures lose 5% for the week

Gold futures fell on Friday, suffering from a sixth straight session loss to tally a weekly decline of roughly 5% as traders assessed recent U.S. economic data to gauge the likelihood of a Federal Reserve interest-rate increase before the end of the year. Monthly nonfarm payrolls data released Friday came in weaker than expected, but still showed a solid gain in employment. December gold fell $1.10, or 0.1%, to settle at $1,251.90 an ounce for the session. Prices settled at their lowest level since June 7, according to FactSet data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Leave a Reply