Gold price down for 3rd week in row

New York (July 29)  Gold prices went declined for the third consecutive week, as the dollar continues to trade at record levels against major currencies.

The precious metal was affected by the USD rise to its highest level in five days.

Gold futures for August delivery ended Friday’s trade down 0.2% and settled at $1,223 per ounce.

Spot gold also slipped 0.1% and reached $1,224.33 as the end of the week’s last session approached.

Decreasing concerns of a trade war led gold prices to register weekly losses of 0.6%, despite a mixed performance by the USD.

MUbasher