Gold shed 4.5 pc on the week

Sunday, 29 November 2020 - 10:30

Gold futures on Friday settled sharply lower, registering the biggest weekly slide since late September, as the metals prices have been buffeted by upbeat news on Covid-19 vaccines that have driven investors to equities and away from the perceived haven of bullion.

February gold GCG21, +0.14%, the new most-active contract, lost $23.10, or 1.27 per cent, Friday to settle at $1,788.10 an oz.

Gold shed 4.5% on the week, based on the most-active contract.

The weekly slide marks the sharpest for gold futures since the week ended 25 September, FactSet data show.

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