COMEX Gold Cuts Weekly Gain to Just 0.1%

(Source:GolAlert.Com) COMEX gold futures, per the June contract, settled lower by $13.20, or 0.8%, at $1,493.60 per ounce on Friday as the U.S. dollar rallied. With today’s sell-off, gold futures cut their weekly gains to just $2.00, or 0.1%.Gold futures held above $1,500 this morning, but tumbled to an intra-day low of $1,482.00 in mid-day trading as the greenback rebounded. The yellow metal pared its losses into the COMEX close, but still finished with a considerable loss.
Source link:http://www.goldalert.com/2011/05/comex-gold-cuts-weekly-gain-to-just-0-1/