Housing data, including starts and existing home sales, are expected later this week. Inflation statistics were also due out. Improving housing data could knock back gold prices, which often react negatively to better economic data. Inflation has held relatively steady in recent years, despite the Fed's massive monetary stimulus programs since the Great Recession. A significant move up would make gold an appealing inflation hedge.
Among volume leaders, Barrick Gold (ABX) was slipping 0.28%.
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