CHICAGO, Oct. 12 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell Friday as traders sought to take profits.
The most active gold contract for December delivery slid 10.9 dollars, or 0.62 percent, to close at 1,759.7 U.S. dollars per ounce, ending the week 1.2 percent lower.
Insiders said gold seems to have had all benefits it's going to get from the announcement of the Federal Reserve last month, and with two weeks to go until the next Federal Open Market Committee (FOMC) meeting, some in the market have decided to take a profit.
Producer prices climbed 1.1 percent in September following an increase of 1.7 percent in August, the Labor Department said. The core wholesale price index, which excludes food and energy prices, was flat in September.
Analysts said the producer price data had prompted some traders to sell before heading out for the weekend.
Silver for December delivery fell 41.3 cents, or 1.2 percent, to close at 33.669 dollars per ounce.