SIVR - Gold hit with worst weekly drop since last June ends at 14-week low

Gold futures fell to another three-month low on Friday, wrapping up a fourth straight weekly decline, as the surging U.S. dollar blunts the metal's appeal as a hedge against inflation. June Comex gold (XAUUSD:CUR) settled -0.9% at $1,808.20/oz, the lowest close for the most-active contract since February 4, and falling 4% for its worst weekly decline since June 2021. Meanwhile, July silver (XAGUSD:CUR) closed +1.1% to $21.00/oz, but its 6.2% slide for the week was the biggest since January. ETFs: (NYSEARCA:GLD), (NYSEARCA:GDX), (IAU), (NUGT), (PHYS), (SIL), (SIVR) Precious metals mining shares mostly gained on Friday but lost ground during the week, including (NEM) -8.2%, (GOLD) -6.4%, (AEM) -9.5%, (AUY) -6.8%, (EGO) -7.6%, (AU) -6.2%, (KGC) -13.8%, (AG) -11.9%, (CDE) -8.3%, (PAAS) -8.5%, (WPM) -7.6%. "Gold has been beaten up as aggressive Fed tightening has sent the dollar soaring," Oanda's Edward Moya said, adding that "even if the bond market selloff

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Gold hit with worst weekly drop since last June, ends at 14-week low