• Gold dropped 1 percent on Thursday as upbeat sentiment on equities and positive U.S. growth data dented the appeal of the safe-haven asset, though the metal was still stuck in its narrowest monthly range in 12 years.
• Spot gold XAU= was down 0.7 percent at $1,274.51 an ounce by 1:53 p.m. EST (1853 GMT), having earlier hit its lowest since Nov. 14 at $1,270.11.
• The price is up 0.3 percent this month, though it has been stuck between $1,265 and $1,300 throughout November.
• U.S. gold futures GCcv1 settled down $8.90, or 0.7 percent, at $1,273.20 per ounce, closing the month up 0.2 percent.
• Silver dipped to an eight-week low, falling in tandem with other industrial metals, traders said.
Silver XAG= dropped to $16.30 an ounce, its lowest since Oct. 6 and was last down 0.7 percent at $16.41, headed for a 1.7 percent drop over last month.
• "Silver is being sold off as part of the industrial complex," said John Lawrence, senior metals trader for Heraeus Precious Metals in New York.
• Global equities were on course to finish November with a 13th consecutive monthly gain, though a dive in U.S. technology stocks left investors wondering whether the longest global equity bull run in living memory might be starting to splutter.
• "Optimism (in equities) is at record highs, so it should come off a bit, which would be reasonably positive for gold. But the stronger dollar will cap any gains that come on the back of (that)," said Martin Arnold, strategist at ETF Securities.
• Palladium XPD= fell 0.4 percent to $1,009.50, but headed for a 3 percent monthly rise. Platinum XPT= was up 0.6 percent at $941.80 an ounce, also poised for a 3 percent rise for the month.
Reference: Reuters
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