Gold tallies gain of nearly $108 in nine sessions ( GC1Q ) (by Myra P. Saefong)
SAN FRANCISCO (MarketWatch) -- Gold futures finished higher Friday to score a gain of 3.2% for the week, as lingering concerns over the potential for U.S. and euro-zone debt defaults helped prices tally a nine-session gain of nearly $108 an ounce. Gold for August delivery (gc1q) rose 80 cents, or 0.05%, to $1,590.10 an ounce on the Comex division of the New York Mercantile Exchange -- a fresh record settlement price. Prices have gained $107.50 since the close on July 1. "All of the underlying factors are simply continuing to work in favor of gold," said Brien Lundin, editor of Gold Newsletter.