Fri, 02 Aug 2013 10:45:13 GMT
Gold set for biggest weekly decline in a month
Gold decreased to the lowest level in two weeks, after better-than-forecast U.S. economic report increased concerns the Federal Reserve may begin to scale back its bond purchases. Spot gold dropped 1.6% to $1,287.56 per ounce and U.S. gold retreated $24 to $1,287.10, adding to signs gold is heading towards the worst weekly decline in four weeks.