Daily Gold Update

Source: Marketwatch

San Francisco— Gold futures ended a roller-coaster Friday in the red, battling a rising dollar but supported by heightened buying interest after the week�s price correction. Gold for February delivery retreated $2.80, or 0.2%, to $1,368.90 an ounce on the Comex division of the New York Mercantile Exchange. That put weekly losses at 3.7%, gold�s worst weekly performance in six months. It lost 3.9% in early July.

Prices rose as high as $1,379 an ounce in a midmorning reversal. Gold traded as low as $1,352.70 just before floor trading opened. At the $1,350 level, �it was met with some really good buying,� said Scott Meyers, a senior trading analyst with Pioneer Futures, a division of MF Global, in New York. Buying intensified after the U.S. government said the economy added 103,000 jobs in December, while many in the market were expecting something closer to 200,000. See full story.