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Gold Firms Near $1270 As Dollar Slides

Gold futures were slightly higher Tuesday morning as stock futures slipped and the dollar weakened, raising the safe haven appeal of the precious metal.

Gold for December was up $5 at $1270 an ounce, moving back near recent 8-week highs.

Its been a brutal summer of the dollar, which has dropped to 2-year lows against the euro.

The Redbook Data, the weekly measure of comparable store sales at chain stores, discounters, and department stores, will be published at 8.55 am ET. In the previous week, the store sales was up 2.8 percent.

The Labor Department's JOLTS report that tracks monthly change in job openings and offers rates on hiring and quits for June will be revealed at 10.00 am ET. The economists are looking for consensus of 5.600 million, compared to 5.666 million a month ago.

by RTT Staff Writer

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