Gold Up $7.73 to $1,386

Gold prices on the Comex in New York increased June 12 $7.80 to $1,384.80 an ounce. Spot gold prices were at $1,386.06 an ounce after rising $7.73, Bloomberg reported.

As the U.S. economy improves, traders suspect the central bank may taper its $85 billion monthly bond-buying program – a move that would undermine support for gold and lower the prices of the precious metal, Reuters reported.

In early trading, today’s gold prices seemed to change little from the day before. Late on June 11, the gold was at $1,378.99, according to the source. For the week, the metal has dropped about half a percentage point.