FOX LIVE NEWS UPDATE
Gold Prices Slip Despite Drop in Dollar Ahead of Economic Data
Gold prices headed lower on Thursday despite a weaker dollar amid ebbing trade concerns as investors awaited economic data later in the session and looked ahead to the Federal Reserve’s policy session next week.
At 5:54 AM ET (9:54 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange slipped $0.70 or 0.06%, to $1,207.60 a troy ounce.
The precious metal has dropped about 11.6% from a peak in April as escalating U.S.-China trade dispute and rising U.S. interest rates were cited as catalysts for the selling in gold.
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