Gold lower going into the weekend

NEW YORK (July 26)  Gold prices are modestly lower in early U.S. dealings Friday. It’s another quiet, summertime trading affair. There has been a lack of major, market-moving news late this week. Traders and investors are looking ahead to next week, when the U.S. Federal Open Market Committee meets and the U.S. employment report is released. With August right around the corner, trading volumes in many markets are likely to decline as summertime family vacations take many traders away from the markets. August gold was last down $1.40 at $1,327.40 an ounce. Spot gold was last quoted down $10.87 at $1,327.89, while spot silver last traded down $0.25 at $20.05 an ounce.