KONTAN.CO.ID - NEW YORK. Gold prices fell to a near one-month low on Tuesday as investors took refuge in the dollar after weak Chinese trade data, while caution prevailed ahead of U.S. inflation figures later this week. Spot gold slipped 0.7% to $1,922.73 per ounce by 09:32 a.m. EDT (1332 GMT), its lowest since July 10. U.S. gold futures were down 0.7% at $1,956.90. "A lot of nervousness about global growth outlook and it is probably going to be a lot weaker than people anticipated and that's triggered a move into the dollar," said Edward Moya, senior market analyst of the Americas at OANDA.
Gold Drops to Near One-Month Low as Dollar Rallies
KONTAN.CO.ID - NEW YORK. Gold prices fell to a near one-month low on Tuesday as investors took refuge in the dollar after weak Chinese trade data, while caution prevailed ahead of U.S. inflation figures later this week. Spot gold slipped 0.7% to $1,922.73 per ounce by 09:32 a.m. EDT (1332 GMT), its lowest since July 10. U.S. gold futures were down 0.7% at $1,956.90. "A lot of nervousness about global growth outlook and it is probably going to be a lot weaker than people anticipated and that's triggered a move into the dollar," said Edward Moya, senior market analyst of the Americas at OANDA.