Gold's Shaky Week: What's Behind the Price Drop? Gold prices have plummeted in recent days, with the June futures opening at $4,654. 50 per troy ounce on Friday, down 0. 7% from Thursday's closing price of $4,685. 30.
Silver fares no better, with July futures opening at $77. 41 per ounce, a whopping 9. 3% lower than Thursday's closing price of $85. 32.
The immediate cause is the standstill in peace negotiations with Iran following President Trump's summit in China this week.