Gold Falls Below $1,200 to 34-Month Low on U.S. Economic Data

Gold Falls Below $1,200 to 34-Month Low on U.S. Economic Data

Scott Eells/Bloomberg

Gold futures tumbled below $1,200 an ounce, extending a slump to a 34-month low, as U.S. economic data topped estimates by analysts, eroding the metal’s appeal as a store of value.