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Gold posts fourth weekly loss in a row

FXStreet (Córdoba) - Gold prices edged a tad lower on Friday and posted a fourth consecutive weekly loss, the worst negative streak since the June-July drop, amid increasing expectations the Federal Reserve will raise rates at its next meeting.

Gold hit its lowest intraday level since Feb 2010 near $1,073 on Thursday and settled down 0.5% at a 5-year low of $1,080 on Friday. The yellow metal also recorded its tenth daily loss out of the last twelve trading days.

On Friday, a mixed bag of US data did little to temper dollar broader positive trend as more FOMC members continue to advocate for December’s lift-off.

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