Gold and precious metals prices declined in today's trading, with gold heading for its biggest weekly loss in six weeks.

Data showed that spot gold rose 0.5% to $3,988.20 per ounce, after hitting its lowest level since early July earlier in the session.

Sources added that US gold futures for August delivery settled at $3,992, but the yellow metal has lost 3.2% since the start of the week, marking its biggest weekly decline since early June.

Other Precious Metals Decline

In the same context, spot silver fell 0.5% to $55.22 per ounce.

The report indicated that platinum fell 0.7% to $1,605.62, and palladium fell 0.4% to $1,244.86, with all three metals also heading for a weekly loss.

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