Gold futures traded lower for a second consecutive session Friday, headed toward a weekly decline of roughly 0.4%, as a strengthening dollar and rising Treasury yields, weighed on the metals complex.
In early action, June gold was $4.50, or 0.3%, lower at $1,344.30 an ounce, threatening its first back-to-back decline since the two-session drop ended March 28. Though the commodity has mostly traded in a narrow range, the contract is now down some 1% since hitting a 2 ½-month high of $1,360 as recently as April 11.
Silver retreated Friday after starting to play catch-up to gold for much of this week. Early Friday, May silver shed 14 cents, or 0.9%, to $17.09 an ounce, pulling back from its own 2 ½-month high, hit in the previous session. The contract is headed toward a 2.5% gain for the week, though is still down 0.8% so far in 2018. Last month, gold prices gained 0.7%, while silver prices fell by roughly 0.9%.
The SPDR Gold Shares exchange-traded fund slipped 0.3% premarket, the iShares Silver Trust fell 0.8%, while the VanEck Vectors Gold Miners lost 0.5%.
Source : Marketwatch