Gold gains, but clouds hover over short-term outlook LONDON (MarketWatch) — Gold prices edged higher Wednesday, a slight recovery from losses in the previous session when investors sought to take on risk in equities.
Gold for August (CNS:GCQ4) rose $2.20, or 0.2%, to $1,308.50 an ounce.
The August contract dropped nearly $8 on Tuesday as the appeal of safe havens weakened and stocks strengthened on better-than-expected inflation and housing data, and quarterly earnings reports that have mostly come in above expectations. The S&P 500 index (SNC:SPX) on Tuesday closed just shy of its record closing high.
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