Gold drops almost $15 per ounce in New York

Metals prices were lower on Friday, following other commodities prices lower on worries having to do with interest rates and global economic growth.

Gains by the dollar were also a factor in the decline of gold prices in New York. August gold fell $14.90 in early afternoon trade to $650.30 per troy ounce on the New York Mercantile Exchange.

July silver was lower in New York trade as well, dropping 44 cents to $13.04 per troy ounce. Platinum lost $8.70 to $1,286.80 per troy ounce. Base metals were lower both in London and in New York, with the New York price for copper falling 12 cents to $3.26 per pound by early afternoon.