Precious metals end lower on Friday

Prices ended the week higher though

Gold futures settled lower on Friday, 11 July 2014 at Comex. Gold still scored their sixth straight weekly gain as traders gauged the risks posed by a troubled Portuguese bank.

Gold for August delivery fell $1.80, or 0.1%, to settle at $1,337.40 an ounce on the Comex division of the New York Mercantile Exchange. Prices ended the week 1.3% higher, taking their six-week total gain to more than $76 an ounce.

September silver closed down almost 5 cents, or 0.2%, to $21.46 an ounce, but was about 1.5% higher for the week.

Economic data at Wall Street on Friday was limited to the Treasury Budget for June, which posted a surplus of $70.50 billion versus a surplus of $116.50 billion in June 2013. The Treasury data are not seasonally adjusted so the June data cannot be compared with the $130.00 billion deficit from May. Fiscal year-to-date, the deficit is $365.90 billion, $144.00 billion less than the comparable period for FY13.

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