Gold Slides Near $1320, Fed's Bullard In London

Gold Slides Near $1320, Fed's Bullard In London

30 June 2016, 14:46
Roberto Jacobs

Gold Slides Near $1320, Fed's Bullard In London

Gold futures eased Thursday morning as stocks were set to pause after a volatile period brought on Britain's vote to leave the European Union.

It appears the worst of the Brexit crisis has passed, but traders remain attracted to gold as a safe haven.

Gold for August was down $7.30 at $1319 an ounce, not far from last week's 2-year highs.

Markets will be paying close attention when St. Louis Federal Reserve Bank President James Bullard speaks to the Society of Business Economists annual dinner in London at 2 pm ET.

The Labor Department is due to release its weekly jobless claims report for the week ended June 25th at 8:30 am ET. Economists expect claims to have risen to 266,000 from 259,000 in the previous week.

At 9:45 am ET, MNI Indicators is scheduled to release the results of its Chicago business barometer survey. The consensus estimate calls for an increase in the index to 50.5 in June from 49.3 in May.

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