Gold Prices Slip Below Unchanged on Upbeat U.S. Economic Data
New York (Aug 5) A couple of upbeat U.S. economic reports helped to pressure the yellow metal. Such bolsters notions the U.S. Federal Reserve will move to raise interest rates sooner rather than later. Very easy U.S. monetary policy the past several years has been a bullish underlying element for the precious metals markets. Also, it appears the geopolitical tensions worldwide have moved to the back burner of the market place...for now, which has limited buying interest in safe-haven gold. December gold futures were last down $4.40 an ounce at $1,283.30.