2016.07.2208:13:00UTC+00Gold Losing Its Safe Haven Appeal

Gold futures slipped Friday morning, trimming yesterday's gains while move back near monthly lows.

Stock futures showed U.S. markets were stable after Donald Trump's GOP acceptance speech, limiting gold's safe haven appeal.

Gold for August was down $7 at $1323 an ounce, while silver remained below $20.

There was little reaction to dismal UK economic data.

U.K. private sector activity contracted at the steepest pace since early 2009 after the "Brexit vote", the results of the flash survey by Markit showed.

The flash composite output index fell to an 87-month low of 47.7 in July from 52.4 in June. A score below 50 indicates contraction.