CHICAGO, July 16 (Xinhua) : Gold futures on the COMEX division of the New York Mercantile Exchange fell yesterday as US Fed Chair Janet Yellen started to testify before the Senate Banking Committee.
The most active gold contract for August delivery fell 9.6 US dollars, or 0.73 per cent, to settle at 1,297.1 dollars per ounce.
In her semiannual testimony to the Senate Banking Committee delivered Tuesday morning, Yellen said US labor markets are far from healthy and signaled the central bank would not be in a hurry to hike interest rates. She emphasized that the US economy needs to be on solid trajectory before the Fed raises rates.
Retail sales rose by a seasonally adjusted 0.2 per cent, or by 0.4 per cent, with the auto sector excluded in June, the US Commerce Department said Tuesday. Silver for September delivery lost 2.5 cents, or 0.12 per cent, to close at 20.889 dollars per ounce. Platinum for October delivery lost 8 dollars, or 0.54 per cent, to close at 1,485 dollars per ounce.
Gold drops below 1,300 US dollars
FE Team | Published: July 17, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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