Commodity Market Update : Epic Research Malaysia

Gold retreated for a third straight day Thursday, closing out July below $1,300, as investors continued to cheer improving U.S. economic data and shun safe-haven assets.

Gold for August delivery GCQ4 +0.15% fell $13.60, or 1.1%, to settle at $1,281.30 an ounce for a 3.1% monthly drop in July. September silver SIU4 +0.04% shed 19 cents to $20.41 an ounce.

On the daily charts, support for gold remains at $1,290 an ounce, while overhead resistance is at $1,312, wrote Marshall Gittler, analyst at IronFX.

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