Gold Falls to $1,335.44 After Rising to One-Month High

Gold prices rose early in the July 24 session before falling back down.

News that the U.S. Federal Reserve may continue its stimulus program increased demand for gold, pushing U.S. prices for the precious metal up early in the session. A weaker U.S. dollar also boosted gold prices earlier today.

Gold futures for December delivery hit $1,342.90 an ounce on the Comex in New York, representing an increase of $8.06 from the previous session, Bloomberg reported.

However, gold prices eventually fell $12, or nearly 1 percent, to $1,335.44 an ounce, Reuters reported. Spot gold prices hit a high of $1,347.69 an ounce today — the highest price seen since June 20.