Gold may extend losses after capping the biggest weekly drop in seven weeks
Gold may extend losses, after capping the biggest weekly drop in seven weeks, as weaker oil prices and a pledge by European Union leaders to avert a Greek default slashed the metal's appeal as a haven.Bullion for immediate delivery declined as much as 0.3 percent to $1,498.15 an ounce and was at $1,500.05 by 10:14 am in Singapore.
Gold on Friday gained for a second day, cutting a weekly decline, as a weaker dollar spurs demand for the metal as an alternative investment.