Gold shed 4.5 pc on the week
Gold futures on Friday settled sharply lower, registering the biggest weekly slide since late September, as the metals prices have been buffeted by upbeat news on Covid-19 vaccines that have driven investors to equities and away from the perceived haven of bullion.
February gold GCG21, +0.14%, the new most-active contract, lost $23.10, or 1.27 per cent, Friday to settle at $1,788.10 an oz.
Gold shed 4.5% on the week, based on the most-active contract.
The weekly slide marks the sharpest for gold futures since the week ended 25 September, FactSet data show.