MW: Gold prices retreat as metal remains under $1,200
By Kate Gibson
NEW YORK (MarketWatch) -- Gold prices fell on Thursday, losing steam on thinking that investor demand for the precious metal has been waning. "Upward momentum is likely to be lacking ahead amid reports that investors have been moderating exposure in gold," said Action Economics. Gold futures for August delivery declined $5.40 to $1,186.4 an ounce in electronic trade on the New York Mercantile Exchange. The contract on Wednesday ended nearly flat, up 10 cents at $1,191.80 an ounce, continuing its recent trend of trading near to, but unable to top the $1,200 level.
