Gold futures on the COMEX division of the New York Mercantile Exchange fell on Thursday on stronger U.S. gross domestic product (GDP) data and a stronger U.S. dollar.
The most active gold contract for February delivery fell 2.5 U.S. dollars, or 0.22 percent, to settle at 1,130.70dollars per ounce.
Gold was put under further pressure as the U.S. Dollar Index rose by 0.11 percent to 103.11 as of 1830 GMT. The index is a measure of the dollar against a basket of major currencies. Gold and the dollar typically move in opposite directions, which means if the dollar goes up, gold futures will fall as gold, measured by the dollar, becomes more expensive for investors.
The precious metal was prevented from falling further as the U.S. Department of Labor released its weekly jobless report on Thursday showing worse-than-expected jobless claims.
Silver for March delivery fell 10.8 cents, or 0.68 percent, to close at 15.871 dollars per ounce. Platinum for January delivery dropped 7 dollars, or 0.77 percent, to close at 907.40 dollars per ounce.
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