MW: Gold falls, heading for third weekly loss on optimism
Gold futures fell Thursday ahead of the three-day long weekend, heading for a third weekly loss as upbeat results from Wells Fargo boosted optimism, reducing gold's investment appeal. Gold for April delivery fell $7.90, or 0.9%, to $876.90 an ounce in early North American electronic trading. The front-month contract has lost 2% so far this week. The more active June contract also fell Thursday, down 0.9% to $877.70 an ounce. In the equity market, U.S. stock futures rose as an early release of profits from Wells Fargo added to the optimism around the financial sector.
