Gold And Silver Prices Are Stuck In The Mud

New York (Oct 3)  Gold futures were flat Tuesday, unable to trim recent losses in the absence of first-tier economic data. Gold prices have slumped recently due to expectations the Federal Reserve will soon raise interest rates.

Fed Chair Janet Yellen hinted as much last week when she said she was concerned that inflation would get ahead of Fed rate hike projections. Rising stocks have also dented gold's safe haven value.

Gold was down USD1 at USD1274 an ounce, while silver was flat near USD16.65.

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