(Reuters) - Most-active gold futures for August on the COMEX division of the New York Mercantile Exchange slipped $4.80 to $659.90 an ounce, pulling off an early high at $665.40. On Tuesday, August gold extended its rally up to a 10-day high at $665.80 which nearly matched the June 8 high of $665.90.
"Gold got up to $665 and just stalled. And the ring was a little bit long at that point. So with the lower oil and unwinding long positions that put a little crimp in the rally," a trader said, referring to the August contract.
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"Gold got up to $665 and just stalled. And the ring was a little bit long at that point. So with the lower oil and unwinding long positions that put a little crimp in the rally," a trader said, referring to the August contract.
Read more at Reuters.com Hot Stocks News
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