Thread: The precious metal gold fell
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Unread 07-27-2010, 08:26 AM
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Cool The precious metal gold fell
The precious metal gold fell when strong US home sales data boosted equities and limited the precious metal's safe-haven appeal. Bullion was pressured as US stocks gained ground when the data showed sales of new US single-family homes rebounded in June from May's record low.
Robin Bhar, an analyst at Credit Agricole said: "gold could still benefit from financial uncertainty despite easing worries about debt held by banks. The factors pushing gold haven't gone away."
The August contract for gold settled down $4.70 at $1,183.10 an ounce.
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