Gold futures for August delivery on the COMEX settled lower by $20.20, or 1.3%, at $1,482.60 per ounce on Friday amid further weakness in precious metals.
With today’s decline, gold futures posted a weekly loss of $18.30, or 1.2%, and closed at their lowest levels in six weeks – since May 17. However, the yellow metal does remain in positive territory year-to-date, by 4.3%.
Silver futures tumbled alongside the price of gold, with the September contract down $1.04, or 3.0%, to $33.79 per ounce this afternoon. This morning silver hit an intra-day low of $33.47, but pared a small portion of its losses as the day progressed.
Other commodities were mixed, as crude oil slid $0.48, or 0.5%, to $94.94 per barrel, while copper advanced $0.03, or 0.7%, to $4.31 per pound.
Dorato Reports Results at Copper-Gold Target
Dorato is focused on the highly prospective Cordillera del Condor Gold District in northern Peru, adjacent to the border with Ecuador – one of the most important gold-bearing districts in the region since pre-Incan times. Dorato has the right to acquire 100% of Minera Afrodita. Full Dorato News Release.
