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Gold Losing Significant Ground This Week

Gold futures continued to fall Wednesday morning, extending yesterday's significant losses.

Gold has dropped to the lowest of 2018 as the dollar and treasuries rallied.

The safe haven appeal of the precious metal has provided little support this week, even as U.S. equities came under pressure.

June gold was down $3 at $1287 an ounce, the lowest since December.

Housing Starts Data for April will be issued at 8.30 am ET. The consensus for housing starts is 1.324 million, slightly up from 1.319 million in the prior month. The permits level is expected to be 1.350 million, versus 1.354 million in March.

Atlanta Federal Reserve Bank President Raphael Bostic will deliver an economic update at a fireside chat in August, Georgia, with audience Q&A at 8.30 am ET.

Fed's Industrial Production data for April will be published at 9.15 am ET. The consensus is for 0.6 percent, up from last month.

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