Friday, October 7, 2011

Gold, Silver Futures Snap 4-Week Losing Skids

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DG365FD46564GFH654FU898 Gold and futures declined on Friday, but each still managed to close in positive territory for the week. COMEX gold for December 2011 delivery slid $17.40, or 1.1%, to $1,635.80 per ounce amid widespread weakness in commodities following Fitch’s downgrade of Italy and Spain’s sovereign debt ratings. Despite the sell-off, gold futures posted a weekly gain of $13.50, or 0.8%.



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