Gold futures are edging lower steadily since morning as overall risk appetite of the investors is on the rise. Chinese exports coupled with upbeat remarks by the Fed Chief, Ben Bernanke, pulled down the gold contract for August delivery to an intraday low of $1221.30. This has been a complete turn over as the bullion soared to a record high earlier this week as looming fears of EU fiscal crisis drove investors to safe havens. However, over the week, investor jitters have subsided, which has weighed down the gold futures prices, which is threatening to fall below $1220.

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