June 26, 2017 / 11:18 AM / 6 months ago

BUZZ-Gold stocks: Gold prices dip ahead of key U.S. data later this week

** U.S.-listed shares of gold miners fall premarket as the precious metal’s price drop 1 pct to six-week low

** Dip comes amid stronger dollar and rise in Asian shares and ahead of a flurry of U.S. data due this week

** Spot gold was down 1.2 percent at $1,241.89 per ounce; U.S. gold futures for August delivery slipped 1.1 percent to $1,243.10 per ounce

** “The market remains clueless about this trigger,” said Afshin Nabavi, head of trading at MKS in Switzerland

“The sweep went through CME, 18,500 lots gold and 5,500 lots silver.”

** Market activity also lower as a few centers in the Middle East and Far East closed for Eid festivities

** Investors are watching the U.S. data, which includes June consumer confidence, pending home sales, crude oil inventories and revised first-quarter GDP, for signs of softness that could push back rate hike expectations

** Gold miners: Harmony Gold down 5.3 pct, Sibanye Gold 3.5 pct, Kinross Gold 3.1 pct, Goldcorp Inc 2.9 pct, AngloGold Ashanti 2.7 pct, Barrick Gold 1.8 pct

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