Gold depreciated on Friday

On Friday, July 20, gold futures for August settlement tumbled 0.1 per cent, to $1,578.50 per ounce as the greenback rocketed. The depreciation of precious metal was also boosted by increased Spain's 10-year borrowing costs above 7 per cent level, as well as U.S. markets trading lower. On the top of that, the single currency weakened versus the U.S. dollar to $1.2187, pushing gold lower, which already lost 0.9 per cent in value during this week.