Investing.com - Gold slid ever so slighlty in Asia Wednesday morning after several days of gains and amid ongoing doubts about the prospects for the US dollar.
Gold futures for August delivery dropped 0.08% to USD1,240.76 on the Comex division of the New York Mercantile Exchange, still higher than a day earlier.
Copper futures on the Comex were virtually flat at $2.725 a pound, down just 0.07%
Earlier this week, China released second quarter GDP growth with a gain of 1.7% that matched expectations and a year-on-year increase of 6.9% that came in slighltly higher than the expected 6.8%. At the same time, China reported industrial production gained 7.6% from a year earlier in June and retail sales rose 11% in June.
A weaker dollar has helped shore up sentiment and gold prices. The market will now look towards Thursday and a meeting of the European Central Bank for new clues on whether the ECB will shift away from ultra-easy policy.
Last week, gold prices rose to two-week highs on Friday as weak U.S. inflation data added to doubts over whether the Federal Reserve would raise interest rates for a third time this year.