Gold News & Info

Source: Marketwatch

San Francisco— Gold futures finished more than $23-an-ounce higher Friday to end a four-session losing streak as lower prices and a weaker dollar helped entice investors back to the metal, but prices still tallied a 2.8% loss for the week. Gold for December delivery added $23.20, or 1.4%, to settle at $1,636.10 an ounce on the Comex division of the New York Mercantile Exchange. It has traded as high as $1,649.60 an ounce and as low as $1,612.80 an ounce. The day was dominated by dollar moves and investor hopes surrounding Europe, said Charles Nedoss, senior market strategist with Olympus Futures in Chicago. Gold had posted a 2.1% loss on Thursday, having ended lower the prior three sessions as well. For the week, gold futures lost $46.90, or 2.8%.

Still, metals tracked equity markets� gains across the globe on Friday, as U.S. stocks moved broadly higher following key earnings, with McDonald�s Corp. shares trading at an all-time high and amid optimism ahead of a euro-zone summit over the weekend. Investors cautiously welcomed a statement from France and Germany promising to provide firm details of a debt-rescue plan for the euro zone in the next few days. �Traders could be eyeing with some uncertainty the euro summit this weekend,� and headlines from it will likely set the tone for trade in financial markets early next week, said Newsom. See full story.