Gold prices sees some profit taking as New York Fed Empire State Survey comes in stronger than expected
- - After last week's solid gains for gold, the precious metal is seeing some profit-taking as the New York Federal Reserve reports showed stronger-than-expected activity in its regional manufacturing survey.
The better-than-expected data is keeping a lid on gold prices as the market tries to hold support above $1,950 an ounce. August gold futures last traded at $1,954.70 an ounce, down 0.47% on the day. The region's labor market also saw robust momentum, with the Number of Employees Index rising to 4.7, up from the previous reading of -3.6.
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