Gold ends the day flat GOLD prices have locked in the largest weekly drop since September as simmering worries over the likely end of US stimulus efforts sent futures down 3.4 per cent. Gold traders slashed holdings of the precious metal after Federal Reserve meeting minutes released on Wednesday showed that policy makers had discussed rolling back some of the central bank's accommodative policies in the coming months. For gold, the spectre of curtailing the stimulus measures is akin to removing a long-running source of support. Many investors rushed to buy the precious metal as a hedge against the Fed's unconventional stimulus efforts on fears the added liquidity would stir up inflation or weaken the US dollar. "The more they talk about tapering (stimulus measures), the more it tapers the gold price," said George Gero, senior vice president with RBC Capital Markets. On Friday, futures finished flat as some investors who bet on lower gold prices moved to lock in their gains ahead of the weekend. "You have a weekend staring you right in the face, so there's profit-taking," said Ira Epstein, director of the Ira Epstein division at the Linn Group. Plus, you're going into much thinner, holiday trading starting Monday. Gold for December delivery, the most active contract, settled up 50 US cents at $US1,244.10 a troy ounce on the Comex division of the New York Mercantile Exchange. This was down 3.4 per cent from the November 15 settlement of $US1,287.40 an ounce, the largest weekly decline since the week of September 3, when prices fell 5.6 per cent. US futures markets are likely to see trading volumes decline next week, as some market participants take time off around the Thanksgiving holiday. London PM Gold Fix: $1,246.25; previous PM $1,240.00 Dec gold $1,244.10, up 50 cents; Range $1,240.30-$1,248.30 Dec silver $19.862, down 7.2 cents; Range $19.815-$20.045 Jan platinum $1,382.70, down $9.00; Range $1,381.10-$1,398.30 Dec palladium $714.05, up 80 cents; Range $712.50-$725.00