Gold price ends week softer after impressive run

San Francisco (Oct 18)  Gold settled down 0.4% to US$1182 an ounce in New York on Friday, coming off a more than three month high. The yellow metal added around 2% for the week, and is now holding near its 200-day moving average.

Holdings in SPDR Gold added another 5 tons on Thursday to around 700 tons, marking its highest holding in three months. SPDR is the world's largest gold-backed exchange-traded fund.

Back in Australia, and with an exchange rate of AUD / USD 0.727, this prices gold in the local money at over A$1600 an ounce.

Source: ProactiveInvestors