Gold is declining and heading to record its largest weekly loss in 6 weeks

Saw Prices of gold and precious metals declined, with gold trending to record its largest weekly loss in six weeks today.

The price of gold in spot transactions reached $3,988.20 per ounce (ounce), after recording earlier in the session the lowest level since the first of this July.

Precious Metals

And US ‌gold futures contracts for August delivery settled at $3,992 However, the yellow metal has lost 3.2% since the beginning of the week, its largest decline since the beginning of June.

In other precious metals, silver in spot transactions fell 0.5% to $55.22 per ounce, platinum fell 0.7% to $1,605.62, and palladium also fell 0.4% to $1,244.86, as the three metals are heading towards recording a weekly loss.

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