Gold futures moved lower Friday, giving up earlier gains to post a loss for the week, after Federal Reserve Chairman Jerome Powell offered an upbeat view on the U.S. economy, dulling demand for the haven metal. Data Friday showed that the U.S. created less jobs than expected in August, but Powell said the outlook for the economy remains favorable and the central bank is "not forecasting or expecting a recession." December gold lost $10, or 0.7%, to settle at $1,515.50 on Comex. It lost about 0.9% for the week, according to FactSet data.
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Gold posts a loss for the session and week as Powell eases worries about the economy