Gold Turns to Weekly Losses

Gold prices declined on Friday, seeing their worst daily losses since last November, amid another surge in U.S. Treasury yields and the rebound of the U.S. Dollar (USD).

Gold futures for February delivery dropped by $78.20, or 4.1%, and finished at $1,835.40 per ounce.

Giving up the $1,900 mark, this is the lowest closing level for the most-active gold futures mid-December 2020 and the biggest daily loss since the November 9 drop.

For the week, the yellow metal futures has turned into a decrease of about 3.2%.