Gold with its biggest weekly decline since May

Gold prices stabilized on Friday, but recorded its biggest weekly decline since May, after better-than-expected US employment data. The data strengthened investors' expectations that we will see an increase in interest rates in December.
This, in turn, has led to an appreciation of the dollar, to which the price of gold is very sensitive.
Over the past week, gold has overcome the lower limit of the range that has been trading since July. This helps to increase the decrease of the metal.
The spot price of gold ended late last week with a minimum increase of 0.1% to 1 247.50 dollars per ounce. This was close to the lowest value of $1 243.71 per ounce, or its lowest level since July 26. The metal lost 2.5% of its value this week, which was the third consecutive price depreciation.