Gold Sees Second-Largest Weekly Decline in 2012

Reuters reported that frustration with the Fed’s decision to extend Operation Twist caused gold to drop nearly 4 percent this week.

As quoted in the market news:

Spot gold was up 0.2 percent at $1,568.70 an ounce by 2:59 PM EDT (1859 GMT), just $5 above the closing price of $1,563.80 for 2011.

The metal noted a 3.5 percent this week for its second-largest weekly decline of the year.

Click here to read the full Reuters report.