Gold futures fell for a third session in a row Thursday to settle at their lowest level in more than three months. Analysts attributed the price decline to expectations that Greece will eventually reach an agreement with creditors, with no lasting ill effects on global financial markets.Gold prices had trimmed some of their earlier losses on the back of weakness in the dollar after data showed the U.S. economy added jobs in June roughly in line with expectations.
Gold for August delivery on Comex GCQ5, +0.19% fell $5.80, or 0.5%, to settle at $1,163.50 an ounce, after trading as low as $1,155.80. For the holiday-shortened week, prices saw a loss of around 0.8%. Tracking the most-active contracts, prices also settled at their lowest level since March 18.
September silver SIU5, +0.24% lost 1.5 cents, or 0.1%, to end at $15.562 an ounce, also the lowest since mid-March. It was more than 1% lower on the week.
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