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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

US growth, inflation numbers drop gold price through $1,300

Posted on 31 July 2014

The gold price fell below the psychologically important $1,300 an ounce level on Wednesday after strong economic data outweighed safe haven buying on geopolitical concerns. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery in early morning trade exchanged hands for $1,294.60 an ounce, down $5.60 from Tuesday’s trading session.
US gross domestic product grew at a 4% annual pace in the second quarter, according to government data released Wednesday. First quarter number were also adjusted, showing a smaller contraction………………………………………..Full Article: Source


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