Oil prices decline as dollar firms up; gold hits eight-month low

Oil’s record start to 2021 was under pressure from a firming dollar and a sell-off in the bond markets that spooked investors in risky assets. Gold prices, too, fell to their lowest in eight months on Friday, and were headed for a second straight weekly and monthly decline.

Spot gold was trading at 1,729.20 an ounce, down 2.39 per cent, in international market at 9 pm IST – the lowest since June 26 at $1,755.45. Prices were down 1.4% for the week and 4.8% for the month so far.

Brent in London fell at the end of a week that saw the