Gold futures trade lower, pressured by dollar’s gains

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Gold futures trade lower, pressured by dollar’s gains

Tue, Jul 29, 2008

Menafn - MarketWatch reports gold futures declined early this morning, as falling oil prices and a higher U.S. dollar left traders inclined to sell the precious metal.

Gold for August delivery fell $5.20, changing hands at $922.50 an ounce on the New York Mercantile Exchange. On Monday, gold finished little changed, ending up 90 an ounce.

James Moore, analyst at TheBullionDesk.com writes:

“The metal may struggle to gain significantly until either oil or the dollar can provide support.”

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Tags: Au, Gold, gold futures, gold gain, Gold prices, oil prices, US dollar

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Gold futures trade lower, pressured by dollar’s gains Says:
July 31st, 2008 at 2:24 am
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