Gold Ends Near 3-month Low, Down 1.8% For The Week

By Myra P. SaefongMarketsMarketWatch Pulse

Gold futures settled Friday at their lowest level since June as traders searched the latest U.S. economic data for clues on the timing and pace of interest-rate increases by the Federal Reserve. The Fed, as well as the Bank of Japan, are set to hold policy meetings on Tuesday and Wednesday and the outcomes and their impact on the U.S. dollar will influence the price direction of gold. December gold fell $7.80, or 0.6%, to settle at $1,310.20 an ounce on Friday. That was the lowest settlement since June 23, and it lost 1.8% for the week, according to FactSet data.

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