Futures contracts of gold on the COMEX were down in early Asian trade as a rise in US dollar index, following the strong US economic data on Tuesday, reduced the safe-haven appeal of the metal. Data showed that the US retail sales in July rose to 0.6%, better than market expectation of 0.3% rise. The most active December contract was down 0.1% at $1,278.4 an ounce. Traders and investors would be keenly watching the Federal Reserve's minutes of meeting for July due later today, for further triggers on the timing of the rate hike in the US.
Source : Newswire
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