Gold prices are dropping on Friday, following a sharp decline in previous trading, which was caused by a surge in oil prices.
Accordingly, December gold futures fell 0.8 percent to $4,029 per ounce at COMEX, a division of the New York Mercantile Exchange (NYMEX).
Separately, silver dropped 1.7 percent to $54.05 per ounce, and platinum fell 0.7 percent to $1,566.3 per ounce.