Gold sees worst week since '13 on renewed rate fears

New York

GOLD had the biggest weekly loss in more than three years as investors judged that a weaker-than-expected US payrolls report won't be enough to sidetrack the Federal Reserve from raising interest rates this year.

Cleveland Fed president Loretta Mester said on Friday that there's a "strong, compelling case" to raise interest rates. Ms Mester spoke after a Labor Department report on Friday showing slower but still-steady job gains in the US in September. Higher interest rates curb the appeal of gold, which doesn't pay interest.