Gold Price Loses Early Gains As Outside Markets Turn Bearish

New York (Aug 8)  Gold prices have erased moderate overnight gains in late-morning dealings Tuesday. The yellow metal backed off when the US dollar index pushed up from its lower levels and is now trading near its daily high. Crude oil prices have also lost their early gains and are modestly down on the day. December gold futures were last down $1.10 an ounce at $1,263.00.

By 11:30am EST spot gold was down $6 to $1,253, while spot silver edged up by 5 cents to $16.35.

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