Spot gold dropped 0.2% to $1,918.19 per ounce by 10:37 a.m. EDT (1437 GMT), while U.S. gold futures fell 0.3% to $1,927.70.
U.S. consumer confidence increased in June to the highest level in nearly 1-1/2 years, while new single-family home sales rose by a more-than-expected 12.2% in May.
"Gold did not like the news," said Edward Moya, senior market analyst at OANDA, as "that better economic data is going to drive those Fed tightening expectations and that should push up yields as well.
The possibility of gold rising high
XAUUSD
BUY 1915 - 1917 💯💯
✅ TP1: 1920
✅ TP2: 1925
✅ TP3: 1930
🛑 SL: 1912
U.S. consumer confidence increased in June to the highest level in nearly 1-1/2 years, while new single-family home sales rose by a more-than-expected 12.2% in May.
"Gold did not like the news," said Edward Moya, senior market analyst at OANDA, as "that better economic data is going to drive those Fed tightening expectations and that should push up yields as well.
The possibility of gold rising high
XAUUSD
BUY 1915 - 1917 💯💯 ✅ TP1: 1920
✅ TP2: 1925
✅ TP3: 1930
🛑 SL: 1912
