Bullions turn pale on Friday

Prices register weekly gains though

Bullions ended lower on Friday, 26 July 2013. Gold prices fell on Friday, giving back much of the previous session's climb but scoring their third straight weekly gain as markets readied for busy week of central bank meetings.

Gold for December delivery shed $7.60, or 0.6%, to settle at $1,321.90 an ounce on the Comex division of the New York Mercantile Exchange. Gold for August delivery fell $7.30, or 0.6%, end at $1,321.50 an ounce. Prices gained 2.2% for the week.

Silver was among the bigger decliners on Comex. The September contract dropped 38 cents, or 1.9%, to end at $19.77 an ounce, but prices clung to a gain of 1.6% for the week.

 

Metals investors looked ahead to a busy week of central-bank meetings as well as economic data. The U.S. Federal Reserve will announce its policy decision on Wednesday, as will the European Central Bank and Bank of England on Thursday. On Friday, the U.S. Labor Department will release its widely watched monthly jobs report.

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