Gold declines, on track for third weekly drop

Source: CNBC
© ScanPix/AFP
The yellow metal was traded in the red on Friday, as it erased all overnight gains and fell below the mark of $1,110 per troy ounce. Gold dropped 0.32% to $1,106 per ounce, after reaching the session high of $1,111 in the early Asian trading. Bullion is on pace for a third consecutive weekly decline, as investors stay cautious ahead of the Fed's decision on the interest rate hike in September. 
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