Gold on track for first weekly loss in seven

Gold fell on Friday and was set for its first weekly loss since May on improving global risk sentiment and a stronger dollar after better-than-expected U.S. data.

 

Wall Street opened slightly higher as June retail sales rose 0.6% in June, compared to an expected 0.1 % rise. But European equities fell after an attack by a gunman at the wheel of a truck in the south of France killed at least 84 people.


Spot gold eased 0.6% to $1,327.30 an ounce by 1433 GMT. It fell to its lowest since June 30 in the previous session.


U.S. gold fell 0.5 % to $1,326 an ounce.Spot gold prices  turned higher, reversing earlier losses in late trade on Friday in New York after Turkish Prime Minister Binali Yildirim said a group within the country's military has attempted to overthrow the government.

 

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.25% to 962.85 tonnes on Thursday. 

                            Gold was up 0.23 % at $1,337.73 per ounce at 4:42 p.m. EST (2042 GMT), moving off intraday lows of $1,322.


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