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20-Jul2017

Gold futures end lower on Wednesday

Gold futures ended lower on Wednesday as the dollar strengthened against a basket of major currencies on the back of economic data that topped analysts' expectations, reducing investors' appetite in the metal. The Commerce Department showed that the housing starts surged up by 8.3 percent to an annual rate of 1.215 million in June from the revised May estimate of 1.122 million.

Gold futures for August delivery closed little changed, up 0.01 percent at $1,242 an ounce on the Comex division of the New York Mercantile. While, spot gold was down 0.05 percent at $1,241.35 an ounce.

 


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