NEW YORK (FFN) – Gold prices saw a slight decline on Friday, August 30, despite having made significant gains over the course of the month. The dip in prices at the end of the week was influenced by a stronger U.S. dollar and positive economic news from the United States, as reported by RTTNews.
The dollar index rose by more than 0.4% to 101.78 points, putting pressure on gold prices. The September contract for gold fell by $31.90 USD (1.26%) on Friday, closing at $2493.80 USD (€2249.30 EUR) per ounce (31.1 g). Over the past week, gold prices weakened by approximately 0.7%, but for the month, they gained about 2.8%.
The spot price of gold also dropped by $18.01 USD (0.71%) to $2503.39 USD per ounce on Friday.
Meanwhile, the September contract for silver fell by $0.826 USD (2.79%) at the end of the week, closing at $28.731 USD per ounce. Silver prices decreased by approximately 3.65% over the past week.
| Commodity | Price (USD/ounce) | Daily Change (%) | Weekly Change (%) | Monthly Change (%) |
|---|---|---|---|---|
| Gold (September) | $2493.80 | -1.26% | -0.7% | +2.8% |
| Spot Gold | $2503.39 | -0.71% | – | – |
| Silver (September) | $28.731 | -2.79% | -3.65% | – |
Key Words: gold prices, silver prices, dollar index, economic news, spot price, commodities
