US gold futures dropped 1 percent on Friday as investors lightened bullion positions but gold's long-term trend remained bullish, analyst s said. August down $9.80 or 1 percent at $960.90 an ounce on the Comex division of New York Mercantile Exchange at 10:43 am EDT (1443 GMT).
Ranged from $965.00 to $950.20 which marked a one-week bottom.Profit-taking sent bullion lower as investors who had recently acquired too much gold too soon were divesting, FC Stone Broker George Nickas said. Spot gold was quoted at $957.30/958.30, compared with $962.10/963.10 late Thursday.
September silver was down 34.5 cents or 1.9 percent at $18.390 an ounce. Ranged from $18.170 to $18.690. Spot silver was at $18.31/18.37, compared with $18.39/18.48 late Thursday.
October platinum was down $35.50 or 1.9 percent at $1,864.90 an ounce. Spot platinum at $1,852.50/1,872.50. September palladium was down $7.90 or 1.9 percent at $418.45 an ounce, following platinum's weakness. Spot palladium was at $417.00/422.00.
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