Gold Loses Its Luster in Thursday Trading
Gold futures for August delivery fell $44.60 to $1,201 an ounce on the Comex division of the New York Mercantile Exchange (CME) Thursday.
The ECB said it will lend banks more than 111 billion euros, or about $136 billion, for six days to smooth the transition from the expiration of a 12-month loan program Thursday. On Wednesday the ECB said European banks took three-month loans totaling 132 billion euros, which was less than economists forecast. The euro vaulted on the news, adding 2.2% to $1.2493.