Gold prices were seen on a dull note

[gnutrade.satya]

Gold prices were seen on a dull note after a sudden decline of the euro prompted investors to take profits from all-time highs set in earlier trading.
Bill O'Neill, managing partner of New Jersey-based commodities firm LOGIC Advisors said: "The pullback of the euro and crude oil for gold's drop after the metal's initial rally based on economic optimism. The dramatic reaction to China's news that we had earlier in the session seems a bit overdone, and a lot of markets have overreacted."
The August contract for gold was down $17.60, or 1.4 percent, at $1,240.70.