Gold price turns to weekly losses

New York (Sept 22)  Gold prices declined on Friday, losing around $10 on the back of selling pressures, a strong dollar and recovering stock markets.

The yellow metal futures for December delivery went down by 0.8% or $10 to settle at the level of $1,201.30 per ounce.

For the week, gold has turned to losses by 0.1%, after a relatively positive performance in previous sessions.

In one minute more than 10,000 contracts, each representing 100 ounces, were sold at the on the Comex Exchange in New York, this led the precious metal to plummeting by 1.1% to $1,197.70 an ounce, before restoring the $1,200 support level.

MUbasher