(Bloomberg) -- Gold fell from a three-month high in
New York on concern U.S. economic growth will slow, reducing
demand for precious metals as a hedge against inflation. Silver
futures also declined.
Purchases of new homes fell 6.6 percent in June, more than
economists predicted, and orders for durable goods unexpectedly
fell for a second month, the Commerce Department said today. Some
investors buy gold to preserve purchasing power in times of
accelerating price increases.
Read more at Bloomberg Commodities News
New York on concern U.S. economic growth will slow, reducing
demand for precious metals as a hedge against inflation. Silver
futures also declined.
Purchases of new homes fell 6.6 percent in June, more than
economists predicted, and orders for durable goods unexpectedly
fell for a second month, the Commerce Department said today. Some
investors buy gold to preserve purchasing power in times of
accelerating price increases.
Read more at Bloomberg Commodities News
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