Gold Prices Declines but Log Weekly Gains

Gold prices declined for the second consecutive day but were able to maintain the $1,800 level, near its highest in nearly nine years.

The yellow metal futures for August delivery decreased marginally by $1.90 and settled at $1,801.90 per ounce.

Gold prices increased by 0.7% for the week.

This is the fifth consecutive weekly rise for the precious metal.