Daily Gold Update

Source: Marketwatch

New York— Gold futures closed lower Friday to end the week with a loss of just over 2%, with strength in the U.S. dollar and a somewhat upbeat picture on the U.S. economy prompting gold investment demand to fall, sending prices below $920 an ounce. But overall uncertainty over the health of the economy may soon help gold prices turn the corner and move higher, some analysts said.

Meanwhile, demand concerns sent platinum prices to their lowest level in six months. Gold for December delivery fell $5.20 to close at $917.50 an ounce on the New York Mercantile Exchange. It finished 2.1% below the week-ago closing level, but above Friday's intraday low of $910.50. See full story.