Daily Gold Update

Source: Marketwatch

New York— Gold futures declined 2% on Friday, as book-squaring at the end of the month and falling crude-oil prices led traders to lock in gains. Gold for February delivery fell $15.10, or nearly 2%, at $787.20 an ounce on the New York Mercantile Exchange. On Thursday, gold futures fell $5 to finish at $795.30 an ounce.

"Gold spent the majority of Thursday straddling the psychological $800 level as traders looked to both oil and the dollar for direction," said James Moore, an analyst at TheBullionDesk.com, in a research note. "That theme looks set to continue today, although month-end profit-taking may see the metal lose some further ground, potentially testing back to last week's low around $772," Moore said. See full story.