Gold Prices Slip on Strong US Economic Data Ahead of Fed Chief's Speech - News18
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Last Updated: June 28, 2023, 00:32 IST New York, United States of America (USA) Choose a jewellery brand that is recognised as a reliable name to invest in. Check for hallmarked jewels, which ensures a high resale value while adding splendour enchantment to any event. (Image: Reuters File) Spot gold fell 0.6% to $1,911.53 per ounce by 2:08 p.m. EDT (1808 GMT), while U.S. gold futures settled 0.5% lower at $1,923.80 Gold reversed course to slip on Tuesday after strong U.S. economic readings, while traders positioned for Federal Reserve Chair Jerome Powell’s speech and more data that could offer clues on future interest rate hikes. Spot gold fell 0.6% to $1,911.53 per ounce by 2:08 p.m. EDT (1808 GMT), while U.S. gold futures settled 0.5% lower at $1,923.80. U.S. consumer confidence increased in June to the highest level in nearly 1-1/2 years, while new single-family home sales rose by a more-than-expected 12.2% in May. “Gold did not like the news," said Edward Moya, sen