The selloff in gold and silver had been anticipated to some degree given the surge in prices. Both metals soared 8.92% and 28.72% in April, respectively, and many traders had been looking for an overbought correction.
Gold prices were lower on Wednesday on upbeat private-sector jobs data, weighing on Kinross Gold (KGC) stock.
Kinross Gold (KGC) stock is falling Friday afternoon as gold prices retreat on a stronger dollar.
Gold was advancing on Thursday following the Fed's July minutes, positively impacting Kinross Gold (KGC) stock.