Gold falls for the day, edges up for the week; palladium settles at a record
Gold declined Friday as stronger-than-expected data on U.S. jobs contributed to a rally in the U.S. stock market, but it still managed to edge slightly higher for the week. February gold fell $9, or 0.7%, to settle at $1,285.80 an ounce. For the week, prices rose about 0.2%, according to FactSet data. Palladium futures, meanwhile, settled at a record, with prices up more than 4% for the week. Growing demand for the metal for use in pollution-controlling catalytic converters in gasoline-powered vehicles has continued to feed worries about tight supplies. March palladium rose $34.10, or 2.8%, to $1,234.40 an ounce Friday. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.