Gold Price Slips Near USD1350 As Stocks Soar
New York (July 12) Gold futures were slightly lower Tuesday, with the precious metal losing its safe haven appeal on signs of robust corporate earnings for the second quarter.
US stock futures are pointing to fresh record highs after Alcoa smashed estimates to kick off earnings season.
AUgust gold was down 3 dollars at USD1352 an ounce, easing further from a recent 28-month high.
On the economic front, St. Louis Federal Reserve Bank President James Bullard is due to speak to the NABE Gateway Chapter in St. Louis at 8:45 am ET.
The Commerce Department is scheduled to release its wholesale inventories report for May at 10 am ET.
Source: AllianceNews
