Gold Slips Price Below Unchanged Following Upbeat U.S. Economic Data

New York (Jun 1)  Gold prices lost modest early gains and are trading slightly lower in late-morning dealings Wednesday. The yellow metal was pressured a bit following some upbeat U.S. manufacturing data that was released. The data falls into the camp of the U.S. monetary policy hawks, who would like to see the Federal Reserve raise interest rates sooner rather than later. A growing number of market watchers expect the Fed to raise interest rates in June or July. Selling pressure in gold is being mitigated by solid losses in the U.S. dollar index on this day. August gold futures were last down $1.60 an ounce at $1,216.00.

Source: KitcoNews