{"id":122972,"date":"2020-11-30T16:44:00","date_gmt":"2020-11-30T13:44:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/gold-prices-slump-book-sharpest-weekly-fall-in-2-months-on-black-friday\/"},"modified":"2020-11-30T16:44:00","modified_gmt":"2020-11-30T13:44:00","slug":"gold-prices-slump-book-sharpest-weekly-fall-in-2-months-on-black-friday","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/gold-prices-slump-book-sharpest-weekly-fall-in-2-months-on-black-friday\/","title":{"rendered":"#\n  Gold prices slump, book sharpest weekly fall in 2 months on Black Friday"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23a31d153aa\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23a31d153aa\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/gold-prices-slump-book-sharpest-weekly-fall-in-2-months-on-black-friday\/#Gold_and_silver_log_their_steepest_weekly_declines_since_the_period_ended_Sept_25\" >Gold and silver log their steepest weekly declines since the period ended Sept. 25<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/gold-prices-slump-book-sharpest-weekly-fall-in-2-months-on-black-friday\/#Mark_DeCambre\" >Mark DeCambre<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  Gold prices slump, book sharpest weekly fall in 2 months on Black Friday<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Gold_and_silver_log_their_steepest_weekly_declines_since_the_period_ended_Sept_25\"><\/span>\n  Gold and silver log their steepest weekly declines since the period ended Sept. 25<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000080958\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Gold and silver futures on Friday settled sharply lower, registering the biggest weekly slides for the commodities since late September, as prices has been buffeted by upbeat <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> on coronavirus vaccines that have driven investors to equities and away from the perceived haven of bullion.<\/p>\n<p> Metals markets closed an hour earlier than usual on Friday, after the  U.S. markets were closed for the Thanksgiving holiday on Thursday. <\/p>\n<div class=\"paywall\">\n       \u201cThe breakdown of the support level of $1,850 has damaged the medium-term trend for\u00a0gold, opening space for further correction,\u201d wrote Carlo Alberto De Casa, chief analyst at ActivTrades in a Friday research note. <\/p>\n<p> On Friday, February gold<br \/>\n        GCG21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210035429\/delayed\" class=\"negative\">-0.87%<\/bg-quote><br \/>\n      \u00a0, the new most-active contract, shed $23.10, or 1.3%, to settle at $1,788.10 an ounce. Meanwhile, December gold<br \/>\n        GCZ20,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210039572\/delayed\" class=\"negative\">-0.83%<\/bg-quote><br \/>\n       finished $23.60, or 1.3%,  lower to end at $1,781.90 an ounce.<\/p>\n<p>Gold trading on Friday puts it well beneath its 200-day moving average at $1,802.11, an area that technical analysts have viewed as support for the asset. A settlement at its current price would also mark gold\u2019s lowest since early July. <\/p>\n<p>The gold \u201cbears\u2019 next near-term downside price objective is pushing futures prices below solid technical support at $1,700.00,\u201d wrote Jim Wyckoff, senior analyst at Kitco.com, in a Friday note.\u00a0 <\/p>\n<p>Meanwhile, March silver<br \/>\n        SIH21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/211961204\/delayed\" class=\"negative\">-2.13%<\/bg-quote><span>,<\/span><br \/>\n       the new most-active contract, lost 80.7 cents, or 3.4%, to settle at $22.639 an ounce.  December delivery<br \/>\n        SIZ20,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210319381\/delayed\" class=\"negative\">-2.00%<\/bg-quote><br \/>\n       lost 80.9 cents, or 3.5%, to settle at $22.639 an ounce.<\/p>\n<p>For the week, gold futures have lost over 4%, marking its steepest weekly skid since the period ended Sept. 25, based on the most-active contracts.<\/p>\n<p>Silver was about 7% lower, also representing its steepest weekly skid since late September, FactSet data show. Futures for the metal have produced three consecutive weekly declines, which also mark the longest string of weekly losses since the three-week span ended May 1. <\/p>\n<p>Gold\u2019s decline has come despite weakness in the U.S. dollar, which commodities are priced in, and a retreat in government bond yields. <\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>The U.S. dollar was off 0.1% on Friday and has dropped to around a three-year low at 91.93, as gauged by the ICE U.S. Dollar Index<br \/>\n        DXY,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598269\/delayed\" class=\"negative\">-0.17%<\/bg-quote><span>.<\/span><br \/>\n       The 10-year Treasury note<br \/>\n        TMUBMUSD10Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">0.855%<\/bg-quote><br \/>\n       fell 1.9 basis points to 0.859%. Bond prices rise as yields fall.  <\/p>\n<p>Meanwhile, March copper<br \/>\n        HGH21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210055581\/delayed\" class=\"positive\">+2.45%<\/bg-quote><br \/>\n       added 8.7 cents, or 2.6%, to settle at $3.4175 a pound. December copper<br \/>\n        HGZ20,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210059538\/delayed\" class=\"positive\">+2.48%<\/bg-quote><span>,<\/span><br \/>\n       the previous most-active contract, picked up 9 cents, or 2.7%, to end at $3.3995 a pound.<\/p>\n<p>For the week, copper has gained about 4% for the week. <\/p>\n<p>March palladium<br \/>\n        PAH21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/215784886\/delayed\" class=\"negative\">-1.30%<\/bg-quote><span>,<\/span><br \/>\n       rose $75, or 3.2%, to reach $2,439.70 an ounce, and notched a weekly rise of 5.1%; while January platinum<br \/>\n        PLF21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/214899298\/delayed\" class=\"positive\">+1.62%<\/bg-quote><br \/>\n       futures shed $5, or 0.5%, to settle at $964.80 an ounce. Platinum futures rose 1.4% for the week.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Mark DeCambre\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Mark_DeCambre\"><\/span>Mark DeCambre<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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