Gold News & Info

Source: Marketwatch

New York— Gold prices rose modestly on Friday, a lackluster end of a week that saw bullion soar to a record $1,245.60 an ounce on Tuesday. Gold for August delivery rose $8, or 0.7%, to $1,230.20 an ounce on the Comex division of the New York Mercantile Exchange. Investors chose to park some of their money in gold ahead of the weekend and out of riskier bets such as U.S. stocks and oil, both of which were lower on Friday. Gold added 1% on the week but Friday's close is 1.2% lower from Tuesday's record. Prices dipped into negative territory earlier as a rise in U.S. consumer sentiment took some of bullion's shine in midday trading.

"Gold is a barometer of risk right now," said James Moore, an analyst with Thebulliondesk.com in the U.K. "There's still good level of investor support" on continued worries about Europe's debt situation. See full story.