Gold Settled Down $1.5

US gold futures fell on Thursday amid the profit taking in the middle of the session.

August gold contract settled down $1.50 at $437.10 a troy ounce, after reaching an
intraday high of $440.30 on the Comex division of the New York Mercantile Exchange.

Traders said a sell off was sparked ahead of an expected rise in short-term
rates announced Thursday afternoon by the U.S. Federal Reserve. Light volume in
gold trading was seen ahead of the Fourth of July holiday.