Gold sinks 7 sessions in a row, loses 4.7% on the week

Gold futures on Friday extended their losing streak to a seventh straight session, settling at their lowest level in more than three months after a better-than-anticipated jobs report made a December interest-rate rise look more likely.

December gold GCZ5, +0.41% lost $16.50, or 1.5%, to settle at $1,087.70 an ounce. Prices logged their lowest settlement since Aug. 5. For the week, they lost about 4.7%, for a third straight week of declines.

December silver SIZ5, +0.30%  took a hit along with gold, falling 29.2 cents, or 2%, to $14.691 an ounce. For the week, prices saw a 5.6% decline.

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