Evening Gold: Gold Closes a Bit Low


(Kitco News)- On Tuesday, the U.S. day session of Comex gold prices ended with slight losses. A number of short covering was presented early on in the session, but afterwards firmer U.S. economic data raised the U.S. dollar index, which sequentially put on gold some downside price pressure. Technical chart consolidation was sighted on the day, following latest selling pressure that last week lured gold prices to a 2.5-year low. The gold market bears remain in strong technical command. Spot gold was last quoted down $6.60 at $1,276.50. Comex August gold was last down $2.00 at $1,275.00 an ounce.

The London new P.M. gold fixing is $1,279.00.