US gold futures fell to their lowest in more than three months on Friday, ending the week 2 percent lower, as economic uncertainties led to heavy selling in gold and other investments perceived as riskier. April settles down $10.20 at $1,052.80 an ounce on COMEX division of NYMEX. Range $1,069.40 to $1,044.50 - weakest since October 30.
GOLD: April was about 2 percent lower from last Friday's close at $1,083.80. Gold pressured as euro fell below key $1.37, the lowest level since May. CitiFX recommends exiting short euro/dollar trade as heavy support seen at $1.36 area.
Rise in sovereign risk in euro-zone countries to increase risk aversion, weighing heavily on gold - James Steel of HSBC. April briefly traded higher after US January jobs report. Payrolls fell unexpectedly in January, but unemployment rate surprisingly dropped to a five-month low.
Sell-off may be buying opportunity as institutional players allocating more to gold in long term - HSBC's Steel. Oil briefly dropped below $70 a barrel on broad-based commodities weakness. Gold-to-oil ratio at 14.86, against 14.52 in the previous session. COMEX estimated final volume at 224,472 contracts. Spot gold at $1,065.10 at 3:07 pm EST (2007 GMT), against $1,062.60 in late New York business.
SILVER: March ends down 52 cents, or 3.4 percent, at $14.83 an ounce, tracking gold. Range $15.380 to $14.650 - lowest since September. COMEX estimated final volume at 59,980 lots. Spot silver at $15.03 an ounce, compared with $15.23 late in the previous session in New York.
PLATINUM: April finishes down $40.20, or 2.7 percent, at $1,475.10 an ounce as weaker economic sentiment hurts industrial metals. Spot platinum at $1,476 an ounce.
PALLADIUM: March palladium closes down $10.15, or 2.5 percent, at $398.25 an ounce, taking the lead from platinum. Spot palladium at $395.50 an ounce.