MW: Gold slips to $941.50 an ounce, gains 3% on week
The February gold contract ended Friday $7 lower, or 0.7%, at $941.50 an ounce, dropping from a seven-month high as investors moved into crude-oil futures and took advantage of the prior sessions' gains. The February contract had topped $950 an ounce on Thursday, the first time it hit that level since July. "Profit-taking became manifest after a relatively tireless run in gold," said Jon Nadler, senior analyst at Kitco Bullion Dealers. Benefiting from a flight to safety, gold ended the week 3% higher.
