Gold price declines from early morning high

New York (Aug 21)  Spot gold price reached an early morning high of $1,196. However, since then the lack of bullish follow-up buying forced the gold price to slowly drible down to the day's low of $1,187. Moreover, the confusion in Washington is the source of growing concern for precious metal speculators, who see a contuing bearish outlook for the gold price.

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