Gold Trims Weekly Gains As Stocks Wobble
WASHINGTON (dpa-AFX) - Gold futures slipped Friday, trimming a portion of recent gains amid a pair of U.
S. economic reports.
Feb. gold settled at $1,196.20/oz, down $3.60, or 0.3 percent.
Gold futures ended the week with a gain of about 1.9 percent, with the precious metal boosted by its appeal as a safe haven asset. Earlier this week, gold touched its highest since November, rising near $1210.
Investors have grown cautious this week amid political uncertainties in the U.S. and speculation that the rally in stocks has petered out.
In economic news today, U.S. retail sales were up 0.6 percent in December.
Economists had expected retail sales to advance by 0.7 percent compared to the 0.1 percent uptick originally reported for the previous month.
U.S. producer price growth came in line with economist estimates.
The Labor Department said its producer price index for final demand rose by 0.3 percent in December after climbing by 0.4 percent in November.
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