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Gold Falls and Narrows Weekly Rise to 2%

M. Ali 8 August, 2020 1:31 am Commodities, Market Update

Gold prices declined on Friday after rising for five consecutive sessions, as the U.S. Dollar (USD) showed strong recovery signs with a strong performance against major currencies.

The yellow metal futures for December delivery declined by $41.40 or about 2% and closed at $2,028 per ounce, narrowing its weekly gains to 2.1%.

Meanwhile, silver futures for September delivery decreased by 86 cents or 3% and settled at $27.540 per ounce, but recorded weekly gains of about 13.7%.

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