Daily Gold Update

Source: Marketwatch

New York— Gold futures fell Friday, ending at their lowest level in more than three weeks as the U.S. dollar rose ahead of a meeting of Group of Eight finance ministers, reducing gold's investment appeal. Friday's loss followed gold's recent rallies that had pushed prices to the highest level in more than three months. August gold fell $21.30, or 2.2%, to $940.70 an ounce on the Comex division of the New York Mercantile Exchange. The less active June contract also fell to end at $940.10 an ounce, the lowest settlement for a front-month contract since May 20. Gold ended the week down about 2.3%.

Silver and other metals followed broadly losses in commodities. July silver lost 61.8 cents, or 4%, to $14.875 an ounce, July platinum fell $15.80, or 1.2%, to $1,258.70 an ounce, and September palladium dropped $1.90, or 0.7%, to $254.10 an ounce. See full story.