GOLD - GOLD SLIPPED FURTHER Gold slipped to a two-week low in London, extending the biggest weekly drop since June, as improving U.S. economic data added to the case for reduced stimulus. Silver also declined to the lowest in two weeks. Bullion dropped for a sixth day, the longest falling streak since May 17. The Bloomberg U.S. Dollar Index, a measure against 10 major currencies, reached a two-week high after U.S. reports showed yesterday claims for jobless for benefits fell to a five-year low and manufacturing accelerated. The Labor Department releases employment data for July later today. Gold for immediate delivery slid as much as 2 percent to $1,283.49 an ounce, the lowest since July 19, and was at $1,288.86 by 10.15 gmt
Posted on: Fri, 02 Aug 2013 10:16:40 +0000