New York gold futures ended lower on Friday as a stronger US dollar made the greenback-denominated metal most expensive for holders of other currencies. COMEX December gold futures settle down $6.60 at $1,228.80 an ounce on the COMEX division of the NYMEX.
GOLD: Ranged $1,223.60 to $1,235.60 an ounce. Gold rose more than 1 percent this week, which would give it the first three-week rally since June. Gold higher as investors looked for asset preservation as the overall outlook for US economy starts to fade - Frank McGhee at Integrated Brokerage Services.
Gold benefited from strong physical demand, which tends to rise in August as jewellers stockpile inventory ahead of the start of top consumer India's wedding season - traders.
COMEX estimated final volume at a quiet 70,870 lots. Spot gold at $1,227.15 an ounce at 3:42 pm EDT (1942 GMT), versus the previous session's late quote at $1,230.10 an ounce.
SILVER: COMEX September silver ends down 33.6 cents, or 1.8 percent, at $17.991 an ounce, taking the lead from gold. Ranged $17.845 to $18.340 an ounce. COMEX estimated final volume at 44,055 lots. Spot silver at $17.97 an ounce, compared with $18.24 late in the previous session.
PLATINUM: NYMEX October platinum finishes down $13.60 at $1,513.90 an ounce on broad-based metals weakness. Spot platinum at $1,510.50 an ounce.
PALLADIUM: NYMEX September palladium closes down $9.45, or 2 percent, at $476.20 an ounce. Spot palladium at $473.50 an ounce.
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