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\t\t<\/span><\/p>\n <\/span><\/p>\n \n \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":" * Gold posts biggest weekly decline since end of June * Some investors see recovery due to “fiscal cliff” * China, India physical demand falls, gold ETF holdings down * Coming up: U.S. retail sales Monday By Frank Tang NEW YORK, Oct 12 (Reuters) – Gold fell nearly 1 percent on Friday, its biggest daily […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-15536","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15536","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=15536"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15536\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}* Gold posts biggest weekly decline since end of June\n * Some investors see recovery due to \"fiscal cliff\"\n * China, India physical demand falls, gold ETF holdings down\n * Coming up: U.S. retail sales Monday\n\n\n By Frank Tang\n NEW YORK, Oct 12 (Reuters) - Gold fell nearly 1 percent on\nFriday, its biggest daily drop in more than two months, as\nimproving U.S. consumer sentiment and jobs data stirred concern\nthe Federal Reserve might curb the monetary stimulus that has\nboosted gold prices.\n For the week, gold fell 1.5 percent, its largest weekly loss\nsince the last week of June. \n \"We are starting to see some improvement in the U.S.\neconomy, so the duration of a quantitative easing plan may not\nbe as long as what was initially anticipated,\" said Phillip\nStreible, senior commodities broker at futures brokerage R.J.\nO'Brien. \n \"People who buy gold as an inflation play are starting to\nstep out of the market,\" Streible said.\n Bullion fell after data showed U.S. consumer sentiment\nunexpectedly rose to a five-year high. On Thursday, weekly U.S.\njobless claims showed a surprise drop, more evidence of a\nstronger labor market after the unemployment rate fell to a\nfour-year low of 7.8 percent last week. \n Some analysts expected gold to rebound because of euro zone\ndebt worries and economic uncertainty amid prospects of a U.S.\n\"fiscal cliff\" of automatic spending cuts and tax increases\nscheduled for January. That scenario could shock the economy and\nlead to more money printing from the Fed.\n Spot gold fell 0.8 percent to $1,754.10 an ounce by\n3:11 p.m. EDT (1911 GMT). The metal has now ended lower in five\nof its last six sessions.\n U.S. COMEX gold futures for December delivery settled\ndown $10.90 at $1,759.70, with trading volume at 40 percent\nlower than its 30-day average, preliminary Reuters data showed.\n Silver was down 1.4 percent at $33.52, heading for a\nweekly loss of more than 2 percent.\n Bullion posted four straight monthly increases prior to\nOctober. Gold jumped to an 11-month high last Friday, but\nfailed to rise above $1,800 an ounce, triggering technical\nweakness.\n \n PHYSICAL BUYING SLOWS\n In top gold consumer India, dealers said that physical\nbullion demand was weak as a soft rupee has pushed up local gold\nprices.\n Holdings of gold-backed exchange-traded funds\n also fell for the first time in two weeks on\nThursday, but were still close to a record high. \n Platinum group metals fell in the absence of fresh news from\nSouth Africa, where industrial unrest has shuttered the\noperations of major platinum miners including Anglo American\nPlatinum, the world's largest producer of the metal.\n Spot platinum was 1.6 percent lower at $1,647.20 an\nounce, while palladium fell 2.8 percent to $633 an ounce.\n\n 3:11 PM EDT LAST\/ NET PCT LOW HIGH CURRENT\n SETTLE CHNG CHNG VOL\n US Gold DEC 1759.70 -10.90 -0.6 1753.50 1775.00 117,604\n US Silver DEC 33.669 -0.413 -1.2 33.510 34.165 35,675\n US Plat JAN 1659.30 -30.30 -1.8 1655.50 1691.30 8,034\n US Pall DEC 639.05 -11.85 -1.8 635.00 653.45 3,134\n \n Gold 1754.10 -14.09 -0.8 1753.05 1773.10 \n Silver 33.520 -0.470 -1.4 33.490 34.120\n Platinum 1647.20 -27.10 -1.6 1657.00 1683.24\n Palladium 633.00 -18.30 -2.8 638.00 651.50\n \n TOTAL MARKET VOLUME 30-D ATM VOLATILITY\n CURRENT 30D AVG 250D AVG CURRENT CHG\n US Gold 122,857 172,110 174,094 15.58 -0.25\n US Silver 37,751 53,154 56,876 35 7.00\n US Platinum 8,157 15,902 9,735 20.1 -0.07\n US Palladium 3,159 4,377 4,807<\/pre>\n