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Gold Falls to $1,280 an Ounce on US Economic Data
Apr. 22, 2014 11:15AM PST
Precious Metals InvestingToday, spot gold prices fell 0.7 percent to trade at $1,280 per ounce. Meanwhile, US gold futures for June delivery were down $12 an ounce, to $1,276.
Today, spot gold prices fell 0.7 percent to trade at $1,280 per ounce, according to Reuters. Meanwhile, US gold futures for June delivery were down $12 an ounce, to $1,276.
A stabilizing US housing market is expected, and rising housing prices will play into gold’s near future, according to the publication.
Thomas Capalbo, Newedge precious metals trader, told Reuters, ”[i]f those numbers come out better than expected or show continued improvement in the U.S. economy, you should start looking at the $1,250 area as the next support level for gold.”
