Gold futures tally 3rd straight week of losses

Gold futures settled lower on Friday to tally a third straight week of losses as investors awaited the Federal Reserve’s key decision on rates next week.

Gold futures for December delivery GCZ5, +0.33%  gave up $6, or 0.5%, to settle at $1,103.30 an ounce on Comex, for a weekly loss of 1.6%. Gold prices fell roughly 1.1% last week and 2.2% the week before that.

The Fed’s two-day policy meeting, starting Sept. 16, may set the tempo for gold’s moves, at least in the short term. The outcome of the Fed’s monetary-policy meeting appears uncertain as the central bank weighs lifting rates for the first time in almost a decade.

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