Gold on Track for Weekly Loss

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.

To view the full Reuters report, click here.