Gold Drops Most Since June, US Mint Coins Mixed in November

New York (Dec 1)  Gold futures notched higher on Friday and for the U.S. holiday-shortened week, but earlier November losses hammered prices and the yellow metal still logged its biggest decline in five months.

Through mid-week, gold settlements teetered around the lowest price since July 8. U.S. markets were closed Thursday for the Thanksgiving holiday. In thin trading on Friday, gold for February delivery turned up $12.50, or 1%, to close at $1,250.40 an ounce on the Comex division of the New York Mercantile Exchange.

"Physical demand is solid, but not bullish enough to spark significant short-covering," Victor Thianpiriya, an analyst at Australia & New Zealand Banking Group Ltd. in Singapore, said in a report relayed on Bloomberg News. "Market sentiment remains less than encouraging."

Gold’s turnaround lifted prices 0.5% for the week to pair its monthly decline to 5.5%, but that was still its worst pounding since the 12.2% decline in June. Gold prices have plunged 25.4% for the year-to-date.