MW: Gold futures edge lower after eight-session climb
By Austen Sherman
SAN FRANCISCO (MarketWatch) -- Gold futures fell Friday, pulling back after tallying a gain of nearly $107 an ounce in the last eight trading sessions, though an S&P warning putting U.S. bonds on review for possible downgrade may provide support for the precious metal. Gold delivery for August GC1Q -0.10% , the most active contract, lost $1.50 to $1,587.80 an ounce. A strengthening U.S. dollar helped to add to the decline. The dollar index DXY +0.19% , which measures the greenback against six rival currencies, was up 0.2%. Gold prices were still poised to log a gain for the week as fears of a U.S. default grow and Europe's sovereign debt crisis linger. On Thursday, gold prices settled at a record high of $1,589.30 an ounce
