Gold prices end at 1-week low

New York (June 8)  Gold futures fell sharply Thursday, as weakness in the euro, following the European Central Bank's monetary policy meeting, strengthened the U.S. dollar. The ICE U.S. Dollar Index DXY, +0.34% was up 0.3%, raising its week-to-date gain and contributing to weaker investment demand for dollar-denominated gold. The August contract for the yellow metal GCQ7, -0.99% dropped $13.70, or 1.1%, to settle at $1,279.50 an ounce.

By 2:00pm EST spot gold ws down $7.00 to $1,278 while spot silver slid 16 cents to $17.44. On the other hand spot palladium surged more than 2% to $856.

Source: MarketWatch