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Gold futures close lower


Chicago: Gold futures on the COMEX division of the New York Mercantile Exchange closed lower, wrapping up a third straight week of losses.

The most active gold contract for December delivery fell $6 (0.54 percent) on Friday to settle at $1,103.30 per ounce.

For the week, the gold futures lost 1.61 percent, after shedding 1.11 percent last week and 2.21 percent the week before that, reported Xinhua news agency.

Gold futures dropped as investors awaited the Federal Reserve’s key decision on rates next week, analysts said on Friday.

As for other precious metals, silver for December delivery gave up 14.00 cents (0.96 percent) to close at $14.505 per ounce.

Platinum for October delivery lost $16.30 (1.66 percent) to close at $964.90 per ounce.

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