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Gold Futures Fall for Third Day on Improved Outlook for Economy
Jan. 06, 2011 07:52PM PST
Precious MetalsBloomberg reports that Gold fell for the third straight day on mounting speculation that an improving economy will cut demand for the metal as a haven.
Bloomberg reports that Gold fell for the third straight day on mounting speculation that an improving economy will cut demand for the metal as a haven.
The market news is quoted as saying:
Fewer Americans filed claims for unemployment insurance payments in the past four weeks, boosting prospects for the labor market. A report tomorrow may show U.S. payrolls rose for a third consecutive month. In the previous two days, gold tumbled 3.5 percent, the most in 11 months, after advancing 30 percent in 2010.
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