Market Watch: Gold futures drop over 2% to log a weekly loss

Gold futures tumbled Friday by more than $30 an ounce, for their first weekly loss in three, after jobs growth data came in slightly better than expected, driving Wall Street stocks higher and pulling investors away from the metal.

Gold for August delivery /quotes/zigman/6585799 GCQ3 -2.22% fell $32.80, or 2.3%, to settle at $1,383 an ounce on the Comex division of the New York Mercantile Exchange. It was down $7.40 ahead of the jobs data, then bounced around before making a firm push lower.

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