Gold Edges Up, Weighed Down by Mixed Data
Author: Matt Day</br></br>Gold futures ended with small gains, as mixed U.S. and Chinese indicators clouded an already-hazy economic picture.</br></br>The most actively traded contract, for August delivery, settled up $1.30, at $1,208.30 an ounce on the Comex division of the New York Mercantile Exchange.</br></br>Futures closed within $15 of the $1,200-an-ounce mark for the 10th consecutive day Thursday, as the uncertain economic outlook has provided little direction for precious-metals prices.</br></br>"We're in a sort of holding pattern," said Caesar Bryan, portfolio manager of Gamco's Gold Fund. "The commentators seem to be somewhat cautious about gold, but the price doesn't seem to want to go down."