Friday, November 11, 2016

Gold on the Decline

Among all the other news of the week, there was bad news for gold investors. Gold futures marked their lowest finish since June, as strength in the U.S. dollar and growing expectations for a Federal Reserve interest-rate increase next month fueled the largest weekly decline in more than three years.

Gold futures for December delivery fell 3.3 percent to settle at $1,224.30 an ounce—the lowest close since early June. For the week, prices lost roughly 6.2 percent, the largest drop since the week ended June 21, 2013.

But there was good news for other metals, especially industrial ones. Copper futures saw a weekly climb of nearly 11 percent, which was the largest weekly gain in over five years.

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