Gold slashed more than 1% on Thursday in a choppy market, as US Supreme Court upheld key part of federal healthcare reform law. The yellow metal showed volatility range $32, while bullion investors remained cautious as they were not much optimistic that the EU summit will take any major changes concerning the debt crisis in the region. Albeit the bullion was carrying on 11 year bull run, the precious metal is presently heading for a 7% loss for the second quarter, while maintaining almost flat year to date.
Gold futures for August-delivery pummeled by $28or 1.7% at $1,550.40, on the Comex division of the New York Mercantile Exchange while, spot gold prices dropped by 1.4% at $1,553.10 an ounce.
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