Gold Prices Are Tumbling To 3-Month Lows
May 27, 2014, 23:39 IST
Gold prices are down 2% to $1,266.50 per ounce, and were at their lowest level since February 10. This comes after some positive economic data out of the U.S. on Tuesday morning.
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- Durable goods orders unexpectedly climbed 0.8% month-over-month, beating expectations for a 0.8% fall. They were up 7.1% on the year.
- Case-Shiller home prices slowed but beat expectations, rising 1.24% MoM and 12.37% YoY.
- Consumer confidence climbed in line with expectations to 83.0 in May.
Other commodities are also falling. Silver is down 1.8%. Agricultural commodities are taking a beating with corn down 1.6% and wheat down 1.4%.
Here's a look at the gold sell-off:
