Breaking: Gold drops below $1,900, taking weekly loss to 7.4%

Gold is trading below $1,90 for the first time since July 24. The yellow metal is currently trading near $1,880,representing a 1.6% decline on the day. 

Prices fell by 5.72% on Tuesday to register the biggest single-day decline in seven years as the US 10-year yield jumped by over six basis points.