Gold for August delivery was shedding $2.70 to $1,517.80 an ounce at the Comex division of the New York Mercantile Exchange. The gold price has traded as high as $1,526.50 and as low as $1,516.20 while the spot gold price was down $3.50, according to Kitco's gold index.
Silver prices were down 14 cents to $34.86 an ounce while the U.S. dollar index was rising 0.29% at $75.41 and the euro was slightly lower.
Gold prices tumbled 2% on Thursday and silver tanked 4.7% on a broad commodity selloff as the U.S. dollar surged and investors rushed into the currency as a safe place to put their cash. Gold started to stem its losses in after-hours trading after Reuters reported that Greece had reached a deal with the EU and IMF over its proposed austerity measures.
