Precious metals end marginally lower

Gold prices fall for second straight session

Bullion prices ended little lower at Comex on Wednesday, 23 July 2014 at Comex. Gold prices fell for a second session on Wednesday as stronger stocks lured investors away but lingering geopolitical risks provided some support.

Gold for August edged down $1.60, or 0.1%, to settle at $1,304.70 an ounce.

September silver shed a penny to $21 an ounce.

The market place Wednesday showed a muted reaction to reports that two Ukrainian military jets were shot down by Russian rebels. Still, there is a bit more investor and trader risk appetite in the market place at mid-week. But the Russia-Ukraine crisis and the Israel-Hamas fighting remain on the front burner of the market place.

Gold, U.S. Treasuries and the U.S. dollar are safe-haven assets that have been and likely will continue to be supported from the heightened world tensions.

U.S. economic data released Wednesday was light and included the weekly mortgage applications survey and the weekly liquid energy stocks report. MBA Mortgage Index, rose 2.4% to follow last week's 3.6% decline.

Traders and investors are looking forward to the next piece of economic data coming out of Chinapreliminary manufacturing data on Thursday.

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