Friday, July 1, 2011

Gold settles at lowest in six weeks

By Claudia Assis
SAN FRANCISCO (MarketWatch) -- Gold retreated to its lowest in six weeks as commodities got hit on Friday and investors migrated to other assets such as U.S. stocks. Gold for August delivery declined $20.20, or 1.3%, to settle at $1,482.60 an ounce on the Comex division of the New York Mercantile Exchange. That puts weekly losses at 1.2%, and marks the lowest settlement since May 17.


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