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Source: https://www.mining.com/gold-price-down-2-as-strong-us-economic-data-puts-traders-on-defense/
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Gold retreated from its highest level in almost five months on Thursday as strong US employment and service sector data propelled the dollar higher and boosted investors’ expectations that the Federal Reserve may reignite tapering talks.
Spot gold declined more than 2% to $1,867.69 per ounce by 11:30 a.m. ET, near its lowest level since May 20. US gold futures were also down by 2%, trading at $1,871.30 per ounce on the Comex.
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Gold retreated from its highest level in almost five months on Thursday as strong US employment and service sector data propelled the dollar higher and boosted investors’ expectations that the Federal Reserve may reignite tapering talks.
Spot gold declined more than 2% to $1,867.69 per ounce by 11:30 a.m. ET, near its lowest level since May 20. US gold futures were also down by 2%, trading at $1,871.30 per ounce on the Comex.
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