Reuters reported that gold steadied in Friday trading, but was on track for a weekly loss.
As quoted in the market report:
Gold erased losses and steadied at around $1,715 an ounce on Friday, but was on course for a weekly loss as investors focused on uncertainty over global growth and worries over the U.S. “fiscal cliff” when $600 billion worth of tax increases and deep spending cuts will set in early next year.
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