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Gold, Silver and Other Metals Drop on Thursday, July 20
Precious metals posted losses on Thursday that ranged from a more modest 0.5% dip for gold to a more severe 2.5% drop for palladium. After reaching its highest settlement since June 6 in the previous session, gold for August delivery declined by $9.90 to close at $1,970.90 an ounce on the Comex division of the New York Mercantile Exchange. "Gold and silver prices weaker in midday U.S. trading early Thursday, on normal downside corrections following recent gains. A rally in the U.S. dollar index, weaker crude oil prices and a rise in U.S. Treasury yields are all negative daily ‘outside’ elements for the ... (full story)