Bullionguru’s,”Gold prices stabilize amid profit-taking, U.S. data on tap”

Gold holds steady after rising to 6-week highs

Gold prices held steady on Friday, as investors locked in profits from the precious metal’s rally to six-week highs on Thursday and as markets awaited the release of U.S. second-growth data due later in the day.

On the Comex division of the New York Mercantile Exchange, gold futures for August delivery were little changed at $1,259.28, off the previous session’s six-week high of 1,265.00.

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