Gold prices fall for second straight session
Bullion prices ended little lower at Comex on Wednesday, 23 July 2014 at Comex. Gold prices fell for a second session on Wednesday as stronger stocks lured investors away but lingering geopolitical risks provided some support.
Gold for August edged down $1.60, or 0.1%, to settle at $1,304.70 an ounce.
September silver shed a penny to $21 an ounce.
The market place Wednesday showed a muted reaction to reports that two Ukrainian military jets were shot down by Russian rebels. Still, there is a bit more investor and trader risk appetite in the market place at mid-week. But the Russia-Ukraine crisis and the Israel-Hamas fighting remain on the front burner of the market place.
Gold, U.S. Treasuries and the U.S. dollar are safe-haven assets that have been and likely will continue to be supported from the heightened world tensions.
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U.S. economic data released Wednesday was light and included the weekly mortgage applications survey and the weekly liquid energy stocks report. MBA Mortgage Index, rose 2.4% to follow last week's 3.6% decline.
Traders and investors are looking forward to the next piece of economic data coming out of Chinapreliminary manufacturing data on Thursday.
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