Gold prices dropped Friday to settle at their lowest in about a month, down 2% for the week. Overall strength in the dollar this week, as well as the Federal Reserve’s adherence to an interest rate-tightening cycle kept pressure on gold, which posted its second weekly loss in a row.
December gold declined by $16.50, or nearly 1.4%, to settle at $1,208.60 an ounce. That was the lowest finish since Oct. 10 for a most-active contract, according to FactSet data.
Source : Marketwatch