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Gold Prices Slip Below Unchanged on Upbeat U.S. Economic Data

Tuesday August 5, 2014 10:25 AM

(Kitco News) - Gold prices lost their early, modest gains in late-morning trading Tuesday.

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.

By Jim Wyckoff, contributing to Kitco News; jwyckoff@kitco.com
Follow me on Twitter @jimwyckoff

 

 

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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