Fri, 16 Nov 2012 17:51:45 GMT
Gold lower on global economic uncertainty
On Friday, gold was traded lower, as the demand for the precious metal was undermined by a growing uncertainty over upcoming U.S. fiscal cliff and overall global economy. Spot prices for gold declined by 0.1% to trade at $1,713.19 per troy ounce at 7:50 a.m. London time. The commodity was likely to end the week with a 1% weekly loss.