Metals traders have been contemplating the outlook for interest rates and their impact on holding nonyielding precious metals. The European Central Bank decided this week to stand pat, as expected, on its primary interest-rate tools, while monetary policy meetings for the U.S. Federal Reserve and Bank of Japan will be held next week.
Gold for June delivery GCM6, -1.33% sank $20.30, or 1.6%, to settle at $1,230 an ounce on Comex, with prices losing roughly 0.4% this week, according to FactSet.
May silver SIK6, -0.61% shed 19 cents, or 1.1%, to $16.90 an ounce. Silver held on to a gain of 3.6% for the week.
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