Gold Prices Fall as Dollar Climbs

NEW YORK ( TheStreet) -- Gold prices were dropping for a seventh-consecutive session as strength in the U.S. dollar added downward pressure on the yellow metal.

COMEX Gold for June delivery was falling $11.80 to $1,375.10 an ounce. The gold price traded as high as $1,391.30 and as low as $1,371 an ounce, while the spot price was off $6.60, according to Kitco's gold index.

"The gold price is still trading below the $1,400 per troy ounce mark and is threatening in the short term to fall further given that yesterday saw gold ETFs again recording outflows of 7.1 tons," Commerzbank AG wrote in a note on Friday.

Silver prices for July delivery were falling 26 cents to $22.40 an ounce, while the U.S. dollar index was adding 0.27% to $83.97.

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