by: Joe Deaux
July 31, 2012
NEW YORK (TheStreet) — Gold prices were coming off intraday highs Tuesday after housing prices and personal income came in better than expected.
Gold for December delivery was rising $1.90 to $1625.90 an ounce at the Comex division of the New York Mercantile Exchange. The gold price traded as high as $1631.60 and as low as $1623 an ounce, while the spot price was up $3.20.
“Since that [personal income] plus the housing market came in a little bit better, prospect of Federal Reserve easing is a little bit lower,” said Phil Streible, senior commodities broker at RJO Futures.
Silver prices for September delivery were climbing about 21 cents to $28.24 an ounce, while the U.S. dollar index was sinking 0.21% to $82.66.