Gold, silver futures drop on Friday

International gold and silver prices both dropped on Friday.

On the New York Mercantile Exchange, gold futures for August delivery fell 1.72 percent to settle at 4,172.90 U.S. dollars per ounce, while silver futures for July delivery dropped 2.12 percent to close at 64.910 dollars per ounce.

An intensive dragon boat race was held on Friday in Ili Kazak Autonomous Prefecture, northwest China’s Xinjiang Uygur Autonomous to mark the Dragon Boat Festival, perfectly blending the charm of tradition with the colorful folk customs.

The Dragon Boat Festival is a traditional Chinese holiday to commemorate the ancient Chinese poet Qu Yuan from the Warring States Period (475-221 B.C.). Celebrated on the fifth day of the fifth month of the Chinese lunar calendar, the festival fell on June 19 this year.

The festival is marked by customs such as eating zongzi, a glutinous rice dumpling wrapped with bamboo or reed leaves, wearing protective sachets and five-colored bracelets, and watching dragon boat races.

After two days of qualifying rounds that began on Wednesday, 24 teams emerged from an initial field of 40 to compete in Friday’s finals.

Each team is composed of 18 members, including a drummer, a steersman, and 16 paddlers, all local residents of Han, Uyghur, Kazakh, Xibe, and other ethnic groups.

At the starting whistle, paddlers surged forward, driving their boats toward the finish line on the Ili River. The air was thick with rhythmic drumbeats and shouts. Each paddler had to keep pace with their team’s rhythm, channeling individual strength into a collective force that propelled the boats swiftly across the water.

The customs of celebrating the Dragon Boat Festival among its various ethnic groups have been passed down for generations in Ili Kazak Autonomous Prefecture. Many areas still retain the traditions of dry-land dragon boat race and burning mugwort to ward off illness.

Unlike inland still-water dragon boat races, the Ili River features a slight lateral current, requiring paddlers to counteract the sideways thrust of the water, which adds a unique competitive challenge to the dragon boat competitions here.

Beyond the thrilling racing, the riverbanks came alive with a festive cultural fair.

Visitors tried their hands at making zongzi in a variety of regional flavors. Others competed in traditional Chinese games such as touhu, or pitch-pot, and cuju, an ancient Chinese ball game. Meanwhile, exhibitions showcasing intangible cultural heritage items were also held, integrating traditional Chinese culture more deeply into the daily lives of the people.