Gold Drops To Daily Low As Raw Commodity Sector Slumps
(Kitco News) - Gold prices are trading moderately lower and have hit their daily lows in late-morning action Wednesday. The raw commodity sector, including the precious metals, is getting hit hard today by new trade sanctions the U.S. has imposed on China. Gold bulls continue to by stymied by the fact their metal is trading like a raw commodity instead of a safe-haven store of value. August gold was last down $8.80 an ounce at $1,246.70.
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