COMEX gold falls on profit-taking despite weak data

Newswire

NEW YORK, July 29 (Reuters) - COMEX gold prices dropped Tuesday morning despite unexpectedly weak confidence data, a down dollar and declining stock market, and traders, who were befuddled at the drop, attributed it to profit-taking as the steep run-up in recent sessions began to consolidate. "Many of the people I talk to are somewhat confused by the action, but others said they are seeing some profit-taking after gold's sharp gains," said one New York broker. August gold futures on the ...

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