(RTTNews) - The price of gold slipped near $1,530 Wednesday morning as the U.S. dollar was steady despite not-so-optimistic comment on the economic growth by Federal Reserve chairman Ben Bernanke.
Ben Bernanke acknowledged in a speech on Tuesday afternoon that economic growth this year has been somewhat slower than expected.
Gold for August delivery, the most actively traded contract, was down $9.40 to $1,534.60 an ounce. Yesterday, gold snapped its two-day winning streak to edge lower.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,212.87 tons.
Meanwhile, the U.S. dollar was ticking higher versus the euro, sterling and leveling off from its record low versus the Swiss franc, while trading lower against the yen.
In economic news, the euro zone economy expanded 0.8 percent sequentially in the first quarter, second estimates published by Eurostat revealed today. On a yearly comparison, seasonally adjusted Gross Domestic Product grew 2.5 percent in the first quarter, faster than the 1.9 percent growth seen in the fourth quarter.
Elsewhere, the prices of silver and platinum were moving lower in morning deals.
