Gold Loses Altitude After Upbeat U.S. Economic Data
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(Kitco News) - Gold prices have lost their good gains seen earlier in the session and in overnight trade, following some stronger-than-expected U.S. economic reports. The June durable goods orders report came in much stronger than expected, while weekly jobless claims declined. These reports fall into the camp of the U.S. monetary policy hawks, who do not want to see the Federal Reserve cut interest rates any time soon. August gold was last up $0.10 at $1,424.00.