World Economy

Gold Settles at $1,163.5

Gold Settles at $1,163.5Gold Settles at $1,163.5

Gold futures slipped for a third straight session to end at a more than three-month low, on continued hopes for a deal in the Greek financial crisis, reported. Nevertheless, the precious metal pared some of the losses after the dollar weakened on some disappointing economic data from the US with a weaker than expected job growth in June and a more than anticipated increase in initial claims for US unemployment benefits last week. The non-farm payrolls figure rose by 223K last month, slightly below the 230K that the Wall Street was expecting. Prior month revisions showed job losses of a combined 60K jobs. Theunemployment rate still dropped to a seven-year low.