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Checking The latest Gold Prices.
Now that hostilities along the Lebanese-Israeli border have been halted by a cease fire, the effect on Gold has been dramatic.
Gold futures fell Friday by nearly $23 an ounce for the week as easing Middle East tensions and inflation concerns tamped down demand for the metal as a safe-haven investment and inflation hedge. Gold bullion came to within 1% of touching the $600 mark on Friday.
Gold for December delivery closed at $621.70 an ounce on the New York Mercantile Exchange, down $3.60 for the session and at its worst closing level since late June. Prices finished $22.70, or 3.5%, below the week-ago close of $644.40.
The benchmark contract closed nearly $14 lower Thursday, pressured by weak oil prices and a late-day dollar rally following a stronger-than-expected survey of manufacturing activity in the Philadelphia area.
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