Gold slips for fourth straight day
Bullion prices ended lower on Friday, 09 May 2014. Gold futures settled lower on Friday for a fourth session in a row, holding their ground below the key $1,300 level and marking a weekly loss of more than 1%. Upbeat comments on the economy from Federal Reserve Chairwoman Janet Yellen this week contributed to gold's losses, amid turmoil in Ukraine.
June gold futures fell 10 cents to settle at $1,287.60 an ounce on the Comex division of the New York Mercantile Exchange. Prices lost roughly 1.2% for the week, their first weekly loss in three.
July silver futures fell nearly 2 cents, or 0.1%, to $19.12 an ounce, ending around 2.2% lower than the week-ago close.
Economic data at Wall Street was limited to the Wholesale Inventories report for March and the March Jobs Openings and Labor Turnover Survey. Wholesale inventories increased 1.1% in March after increasing an upwardly revised 0.7% (from 0.5%) in February, while the consensus expected an increase of 1.0%. Separately, the Job Openings and Labor Turnover Survey for March indicated job openings decreased to 4.014 million from 4.173 million.
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