Gold Flat on Strong Data

Gold Flat on Strong Data (CNBC)

A good series of U.S. economic data spurred fears of imminent stimulus tapering by the Federal Reserve, leading gold to lose gains made early in the day. The holiday-shortened trading week is also contributing to diminished market activity. “Gold remains very sensitive to the U.S. data, and we saw that it cut initial gains after today’s mixed numbers,” ABN Amro analyst Georgette Boele said. “It looks like investors are looking for reasons to push the price lower, and any bounce higher runs quickly out of steam.”