WASHINGTON (dpa-AFX) - Gold futures fell Friday but posted their best weekly gains in more than seven years due to storm clouds on the global economic horizon.
Plunging stocks and 13-year low oil prices have boosted gold's safe haven appeal, driving gold futures to their highest since last February.
April gold settled at $1,239.40 an ounce, down $8.40, or 0.7 percent, for the session. Gold was up 7 percent for the week, its best performance since December 2008.
Markets were calm today as traders picked up bargain among some beaten down sectors.
An ubpeat US retail sales report had investors in a decent mood.
The Commerce Department said retail sales climbed by 0.2 percent in January compared to economist estimates for a 0.1 percent uptick.
The report also showed that retail sales in December rose by an upwardly revised 0.2 percent compared to the 0.1 percent drop initially reported.
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