Gold falls in Asia

08 Jan, 2011

Spot gold fell for a fifth straight day on Friday, pressured by dollar strength, as investors wait for a key US employment report later in the day for clues on the health of the world's largest economy. Spot gold edged down 0.4 percent at $1,365.80 an ounce by 0815 GMT, headed for a fifth straight day of loss, the longest losing streak unseen since May 2010.
Spot gold was on course for a weekly loss of 3.7 percent, its largest weekly loss since late May. US gold futures also declined 0.4 percent to $1,366.3.

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