Gold Dips Slightly, On Track for Second Weekly Gain

Reuters reported that gold is losing some of its momentum, but that the beleaguered precious metal is on pace for a second weekly gain, on easing concern around possible  U.S. Fed retreat on monetary easing.

As quoted in the market report:

Spot gold touched its highest since May 15 at $1,421 an ounce, before retreating to $1,412.26 at 1144 GMT, down 0.1 percent. U.S. gold stood unchanged on the day at$1,411.80 an ounce.

To view the whole Reuters report, click here.