Gold fell in New York, capping a second straight weekly loss, as moves by China to fight inflation and slow growth eroded demand for precious metals and raw materials.
Gold fell to a two-week low on investor sales after the metal’s rally to a record this year. Silver, palladium and platinum also dropped.
Gold prices rose for the third straight session on speculation that Europe’s debt woes will spread, boosting demand for the precious metal as a store of value.
Gold fell from a 15-week high on speculation that demand for bars and coins will ebb following the rally.
Gold futures climbed to the highest in almost 17 weeks on speculation that a sputtering U.S. economy will boost demand for the metal as an alternative investment.
Gold futures climbed to another record on investor demand for an alternative to the slumping dollar. Silver extended a rally to a 30-year high.
"There are some people who believe the Fed won't raise rates at all in 2015."
- Adam Klopfenstein on Jan 12, 2015