By Moming Zhou Last update: 1:48 p.m. EDT Oct. 17, 2008 NEW YORK (MarketWatch) -- Gold futures fell Friday for a seventh straight session, with the benchmark contract ending the week down the most in two months. Gold for December delivery lost $16.80, or 2.1%, to finish at $787.70 an ounce on the Comex division of the New York Mercantile Exchange. The contract has lost $71.30 this week, or 8.3%. Gold fell 8.4% in the week ended Aug. 15. "Funds who would like to keep their asset of last resort are being forced to sell, and this is causing weakness in the paper gold market price," said Peter Spina, president of GoldSeek.com. |