Gold futures fall 3.2% for the week, largest weekly loss in over 2 years

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Gold futures declined on Friday to tally a loss of 3.2% for the week, the largest such loss in more than two years. Gains this week in the U.S. stock market and Treasury yields, as well as strength in the dollar, pressured demand for haven gold as traders weighed potential progress in U.S.-China talks toward phase one of a trade deal. “For gold investors, it could have been worse, but bias is still towards downside,” said Jeff Wright, executive vice president of GoldMining Inc. “Next week could be choppy, and I think gold will retest this week’s lows.” December gold lost $3.50, or 0.2%, to settle at $1,462.90 an ounce. That was the lowest most-active contract finish since Aug. 2, according to FactSet data. Prices suffered their largest weekly percentage loss since May 2017. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

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