NY gold lunges lower early on US data, silver rises

Newswire

NEW YORK, July 31 (Reuters) - COMEX gold futures fell Thursday morning as speculators lightened up longs after upbeat U.S. economic data lifted the dollar, but dealer buying braked the skid. "We're futzing about here. The market is very long, and we saw liquidation after the data. But there is buying down below $357" in most-active December gold, a COMEX floor broker said. Stronger-than-expected U.S. second-quarter growth and a fall in the number of Americans registering jobless claims ...

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