Gold rebounds, but still loses 0.8% for the week

Gold futures settled with a gain on Friday, recouping much of the previous session’s losses, but they still logged a loss for the week—their seventh in eight weeks.

February gold GCG6, -0.90%  tacked on $3.70, or nearly 0.4%, to settle at $1,075.70 an ounce on Comex. The precious metal registered a weekly decline of about 0.8%. Gold posted a gain last week, but fell for six weeks in a row before that.

Prices lost 0.4%, or $4.50 an ounce, on Thursday and early Friday, they touched a low of $1,061.70, pressured by yet another leg down for crude-oil prices CLF6, -1.04%  to levels not seen in nearly seven years.

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