Gold Price Slips To Daily Low In Wake Of Upbeat U.S. Economic Data

New York (Oct 31)  Gold prices are trading lower and near the session lows in late-morning action Tuesday. The yellow metal extended early losses after a bevy of U.S. housing, business and consumer sentiment data released earlier this morning was mostly upbeat. The economic data falls into the camp of the U.S. monetary policy hawks. The data also bolsters already firm notions the Federal Reserve will raise interest rates slightly at its December FOMC meeting. December gold was last down $7.60 an ounce at $1,270.20.

By 11:00am EST spot gold price was down $6 to $1,269 as the US dollar strengthens.

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