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Gold Trims Weekly Gains

Gold futures fell Friday, trimming weekly gains as U.S. stocks steadied.

December gold settled down $13, or 1%, at $1,274.20/oz., moving back toward recent 3-month lows.

After a dismal start to today's session, stocks found their footing and dented gold's safe haven appeal.

The University of Michigan released a report on Friday showing a bigger than expected pullback in consumer sentiment in the month of November.

The report said the preliminary reading on the consumer sentiment index for November came in at 97.8 compared to the final October reading of 100.7. Economists had expected the index to dip to 100.0.

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