Weekly Gold price review!

Gold futures capped the first weekly decline in a month as better-than-expected U.S. economic data increased speculation that the Federal Reserve may slow the pace of fiscal stimulus. Gold futures for December delivery fell 0.1 percent to settle at $1,310.50 an ounce in New York, after dropping as much as 2.2 percent to $1,282.40, the lowest since July 18. Prices rebounded after payrolls in the U.S. rose by 162, 000, less than estimated, and the jobless rate dropped to 7.4 percent from 7.6 percent. The precious metal lost 0.9 percent this week, after rallying the previous three weeks.

Silver futures for September delivery jumped 1.5 percent to $19.912 an ounce in New York, the biggest gain since July 22, pushing the precious metal to a 0.7 percent increase for the week. On the New York Mercantile Exchange, platinum futures for October delivery gained 0.5 percent to $1,451.50 an ounce. West Texas Intermediate crude pared its weekly increase after fewer jobs than forecast were added in the U.S., the world’s largest oil consumer.WTI for September delivery lost as much as 79 cents to $107.10 a barrel in electro nic trading on the New York Mercantile Exchange. The volume of all futures traded was 17 percent above the 100 -day average. The contract climbed 2.8 percent to $107.60 yesterday, the most since July 10.

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