Gold price down 5th week in row

London (Aug 11)  Gold prices went down on Friday amidst a strong rise of the US dollar on the back of the falling Turkish Lira and a decline in the Euro and the British Pound.

The dollar reached its highest level in 13 months against major currencies.

The Precious metal futures for December delivery fell 0.1% to settle at the level of $1,219 per ounce.

Gold has recorded its fifth consecutive weekly decline, losing 0.3% for the week.

MUbasher