Gold Prices Slip Amid Concerns for Spain, China

An emboldened dollar pulled down the value of gold futures on Friday, halting one of the strongest 

weeks the precious metal has recently had, according to Reuters. 

Deepening concerns about the economic and financial outlook and health of Spain tugged at the 

value of the shared currency of the European Union, which impacted the price of the precious 

metal. Slackening growth in China, host of the globe's second-largest economic system, also 

impacted market performance. 

"Especially in the United States, the investment 

climate is very neutral towards gold at this stage. People really need to see a policy catalyst 

before they come back aggressively," analyst Walter de Wet with Standard Bank told Reuters. 

At 11:32 a.m. on Friday, gold futures fell 0.87 percent, a $14.70 loss to $1,665.90 per troy ounce. 

Gold was driving toward gains this week of 2.4 percent, Reuters reports. 

The Wall Street Journal reports Chinese gross domestic product during the first quarter of the 

year increased 8.1 percent, which is less than the 8.9 percent from the fourth quarter of last year 

and the 8.3 percent projected for the first three months of this year.


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