Gold Slips as Investors Await Economic Signals

by Christopher Freeburn | July 30, 2013 4:46 pm

Gold Silver GLD IAU SLV[1]Gold dipped slightly in Tuesday trading as the Federal Reserve kicked off its Federal Open Markets Committee meeting, with a statement due to be released tomorrow.

Investors are also looking ahead to news from the Labor Department, which will issue the July jobs report on Friday. Overseas, the Bank of England and European Central Bank are also holding key meetings this week.

Gold futures for August delivery declined 0.3% to $1,324 per ounce on Tuesday, according to CME Group[2]. Gold traded as high as $1,329.60 and as low as $1,316.20. Gold bullion closed in London at $1,328, according to BullionVault[3].

Silver futures for August delivery fell 0.9% to $19.67 per ounce. Tuesday’s high for silver was $19.83, while the low was $19.65.

Gold and silver funds declined in Tuesday trading.

Gold and silver mining ETFs slid during the day.

Gold mining shares mostly sank on Tuesday.

Silver mining shares mostly rose during the day.

As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[23] contributed to this report.

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