Gold News & Info

Source: MarketWatch

New York— Gold futures fell Friday for a fifth session, extending the precious metal's weekly losses to more than $30, as falling crude-oil prices reduced gold's appeal as a hedge against inflation. Gold for December delivery closed down 40 cents at $802.80 an ounce on the New York Mercantile Exchange. It slumped to an intraday low of $794.80 in overnight electronic trading but also rose to $824.20.

The yellow metal has lost $32.4, or 3.9%, in the week as fresh strengthening in the dollar triggered a broad sell-off in commodities that has also sent the benchmark crude-oil contract to a five-month low. Gold was mostly trading higher in the session as the U.S. dollar rose sharply after a poor U.S. jobs report. But the greenback pared losses in later trading, adding downward pressures on gold. See full story.