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1st LD Writethru: Gold futures lower for 3rd straight week

Xinhua, September 12, 2015 Adjust font size:

Gold futures on the COMEX division of the New York Mercantile Exchange closed lower on Friday, wrapping up a third straight week of losses.

The most active gold contract for December delivery fell 6.00 U.S. dollars, or 0.54 percent, to settle at 1,103.30 dollars per ounce.

For the week, the gold futures lost 1.61 percent, after shedding 1.11 percent last week and 2.21 percent the week before that.

Gold futures dropped as investors awaited the Federal Reserve's key decision on rates next week, analysts said Friday.

The U.S. Federal Reserve will hold a two-day policy meeting next week, and Reuters reported that the investors are awaiting the statement for clues to the timing of U.S. interest rate rise before taking any big moves on gold.

As for other precious metals, silver for December delivery gave up 14.00 cents, or 0.96 percent, to close at 14.505 dollars per ounce. Platinum for October delivery lost 16.30 dollars, or 1.66 percent, to close at 964.90 dollars per ounce. Endit