Daily Gold Update

Source: Marketwatch

San Francisco— Gold futures closed a volatile week with a modest drop Friday, as investors waited to hear more about currencies from the gathering of world finance leaders in South Korea. The metal had advanced marginally earlier on, but lost steam as the session progressed and as the dollar turned higher, taking away some support. Gold for December delivery retreated 50 cents to $1,325.10 an ounce on the Comex division of the New York Mercantile Exchange. Gold was down 3.4% for the week, its first losing week in six.

Gold stumbled 1.4% Thursday, as the dollar strengthened. The metal has had a volatile week, which included a dip of 2.6% on Tuesday. Silver held on to gains a little longer, but also settled lower. Copper finished positive after wavering. Investors seemed sidelined and trading was �quiet,� allowing some of Thursday�s weakness to follow through, said HSBC analyst Jim Steel. See full story.