NEW YORK (Commodity Online) : Oil and gold closed the week on a losing note mainly on sinking consumer sentiment.
New York's main contract, light sweet crude for delivery in August, fell 61 cents on Friday to finish the week at $76.01 a barrel.
London's Brent North Sea crude for September fell 82 cents to settle at $75.37.
Gold futures fell $20.10, or 1.7%, to $1,188.20 an ounce, the biggest one-day drop since May 21, by the close of floor trading in New York Friday.
Gold rose to a record $1,266.50 an ounce on June 21 and surged to all-time highs in euros, UK pounds and Swiss francs last month amid Europe's fiscal crisis
Silver futures for September delivery fell 57.4 cents, or 3.1 per cent, to $17.788 an ounce on the Comex. The price was down 1.6 per cent for the week.
Platinum futures for October delivery dropped $21.60, or 1.4 per cent, to $1,512.10 an ounce on the New York Mercantile Exchange. The metal lost 1.4 per cent this week.
Palladium futures for September delivery declined $18.60, or 4 per cent, to $448.60 an ounce on the Nymex, for a weekly decline of 1.8 per cent.
Copper prices dropped as much as 2.8 per cent. Energy futures also declined.
