Gold futures ended lower Friday, falling after two days of gains as the US dollar and US bond yields bounced higher.
The dip and those earlier in the week were enough to give gold its first weekly loss in 10 weeks.
Last week began with gold trading in record territory but ended lower.
The 10-year US Treasury bond yield on Thursday touched its highest in eight weeks. Friday saw 10-year Treasuries yield 0.693% at the end, up sharply from the 0.562% the previous Friday.
The US dollar was firmer on Friday than earlier in the week but the Aussie dollar ended a touch higher (20 points) at 71.7 1US cents.
Comex December gold dropped $US20.60, or nearly 1.1%, to settle at $US1,949.80 an ounce, after climbing 1.1% on Thursday.
Gold prices saw a weekly fall of around 3.9%, based on the most-active contract’s settlement last Friday.
On Tuesday gold futures suffered the biggest daily dollar decline since April 15, 2013.
Comex September silver prices also dropped on Friday, shedding $US1.63, or 5.9%, to end at $US26.089, after surging 6.7% a day ago.
Silver slumped 5.3% over the week.
Key industrial metal, copper ignored the speculative surges in precious metals and rrose strongly last week.
Comex September copper rose nearly 1.9% to $US2.859 a pound on Friday, for a weekly rise of 2.4%.
And iron ore prices closed the week at another year high of $US122.44 a tone, up $US1.06 on the day and 2.7% or $US3.23 for the week.
