GOLD DRIFTING LOWER AMID UPBEAT US GDP

gold-dollar

WASHINGTON (Alliance News) – Gold futures fell for a third day Monday morning, after upbeat US economic data.

Dec. gold was down USD4 at USD1320 an ounce, having edged lower since last week’s Federal Reserve decision to hald steady on interest rates.

The Commerce Department said US gross domestic product increased by more than previously estimated in the second quarter.

Second quarter GDP climbed by 1.4% compared to the previously reported 1.1% increase.

Economists had expected the pace of GDP growth to be upwardly revised to 1.3%

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