Gold Futures Falls as U.S., European Stocks Advance
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Gold futures declined as U.S. and European equities advanced, curbing demand for the precious metal as an alternative asset.
Stocks climbed on optimism over corporate earnings. U.S. consumer confidence soared in July to the highest in almost seven years on the heels of a strengthening labor market, a private gauge showed today. Earlier, gold reached a one-week high on demand for a haven amid escalating conflicts in the Gaza Strip and Ukraine.