Gold Logs 2nd Straight Weekly Loss, American Eagle Coins Mixed
Gold declined Friday, securing a second straight weekly loss along with other precious metals. Gold prices fell in four of the last five days as investors' instead favored the U.S. dollar which extended its winning streak to ten sessions.
"When the market gets very nervous, then they (investors) buy dollars and gold finds it difficult to rally," Bloomberg quoted Jesper Dannesboe, an analyst at Societe Generale SA in London. "Given what's going on in the markets at the moment, any rally will probably just be a bounce before another setback."
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