Gold futures finish lower for the session, gain for the week

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Gold futures edged lower on Friday, but posted a weekly gain of more 3%. The precious metal “found some support earlier in week on bargain shopping” with U.S. fiscal stimulus negotiations resuming and prospect for a compromise on the rise, said Jeff Wright, executive vice president of GoldMining Inc. The U.S. jobs data Friday were “not great,” but also not enough to quickly force a stimulus deal, he said. Against that backdrop, “gold backed off little” as U.S. equities moved up. Gold may see some safe-haven interest next week amid the risk for a U.S. government shutdown if legislation to finance the government is not reached, said Wright. February gold fell $1.10, or nearly 0.1%, to settle at $1,840 an ounce.
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