Gold Down on Technical Selling, Upbeat U.S. Economic Data

May 02, 2014   |   May 2014 Bond Updates
(Kitco News) - Gold prices ended the U.S. day session moderately lower Thursday. A lack of fresh, bullish news for the gold market is allowing the technical traders to dominate—and the near-term technical posture for gold remains bearish. Also, generally upbeat U.S. economic data released Thursday fell in favor of the bearish camp of gold traders. June gold was last down $10.70 at $1,285.00 an ounce. Spot gold was last quoted down $6.00 at $1,285.75. May Comex silver last traded down $0.079 at $19.04 an ounce.

View more at: http://www.forbes.com/sites/kitconews/2014/05/01/gold-down-on-technical-selling-upbeat-u-s-economic-data/
 
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