By Myra P. Saefong
Prices tank as upbeat U.S. jobs report lifts the dollar
Gold futures on Friday extended their losing streak to a seventh straight session, settling at their lowest level in more than three months after a better-than-anticipated jobs report made a December interest-rate rise look more likely.
December gold GCZ5, +0.18% lost $16.50, or 1.5%, to settle at $1,087.70 an ounce. Prices logged their lowest settlement since Aug. 5. For the week, they lost about 4.7%, for a third straight week of declines.
December silver SIZ5, +0.50% took a hit along with gold, falling 29.2 cents, or 2%, to $14.691 an ounce. For the week, prices saw a 5.6% decline.