News Column

Gold Continues To Wobble Below USD1,300

May 23, 2014

WASHINGTON (Alliance News) - Gold prices are lower Friday morning, dragged down by a stronger greenback.

Meanwhile, investors are looking ahead to new home sales data for April from the US Commerce Department.

Gold futures for June delivery are down USD3.50 or 0.27% at USD1,291.50.

On Thursday, gold futures ended up USD6.90 or 0.5% at USD1,295.00 an ounce, supported by India's decision to relax gold import norms and on geopolitical concerns.

Silver for July is down USD0.112 or 0.57% at USD19.408 an ounce.

Meanwhile, copper is up USD0.022 or 0.71% at USD3.164 per pound.

On the economic front, the Commerce Department is scheduled to release its new home sales report for April at 10 am ET. The consensus estimate calls for new home sales to increase to a seasonally adjusted annual rate of 420,000 from 384,000 in the previous week.

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Source: Alliance News

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