FXstreet.com (Barcelona) - Gold futures continue to edge lower after yesterday’s late drop from near record highs upward of $1265 a troy ounce. Currently the gold contract for August delivery, the most active future, bids at $1234.80 where it is off nearly $5 since opening price. Even though gold fell on yesterday’s slight improvement of confidence on Wall Street, the yellow metal continues to be supported by high risk aversion as investors are wary of the durability and pace of the global economic recovery. The market will have an eye out for key data releases in the coming days including the US housing sector release due out today as well as the all-important US employment report due Thursday in order to gage the health of the US economy and gain direction of market movements.

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