Daily Gold Update

Source: Marketwatch

San Francisco— Gold futures closed more than $13 per ounce lower Friday, and the weekly loss for silver prices exceeded 12% amid fresh buying interest in the U.S. dollar, which pressured dollar-denominated commodities such as gold and oil. Gold for December delivery dropped $13.10 to close at $864.80 an ounce on the New York Mercantile Exchange. It traded as low as $858, the contract's weakest intraday level since early May.

For the week, gold is down 5.7%. Weaker still was September silver, down 92.7 cents, or 5.7%, closing at $15.33 an ounce. Silver futures traded at their lowest level since early January, and for the week they're down 12.5%. See full story.