Gold Registers Losses for Third Week in Row

Gold prices declined on Friday for the second session in a row, as the U.S. Dollar (USD) continued to rise against major currencies, extending the downward trend for the third consecutive week.

The yellow metal’s most active contract finished the week at its lowest closing level in about seven weeks.

Gold futures for August delivery lost $5.80, or 0.3%, to close at $1,769 per ounce.

This is the lowest closing level for gold’s futures since April 30.

For the week, the precious metal has registered a loss of about 5.9%, in the worst weekly performance since mid-March of last year.