Daily Gold Update

Source: MarketWatch

New York— Gold futures fell sharply Friday, as a rise in the U.S. dollar pressured investment demand for the precious metal. Gold for June delivery dropped $27.70 to end at $915.20 an ounce on the New York Mercantile Exchange. On the week, the metal posted a loss of $11.80 from last Friday's closing level of $927 an ounce.

"The flight-to-quality trade is flying out of gold and back to stocks," said Zachary Oxman, a senior trader at Wisdom Financial. "We've had two days of an extremely strong stock condition and a very negative bond market," Oxman said. "Today, the money is flying out of safe-haven plays back into risk and back into the dollar." See full story.