• Gold futures on the COMEX division of the New York Mercantile Exchange fell on Wednesday on mixed U.S. economic data and a stronger U.S. dollar.
• The most active gold contract for February delivery fell 0.8 U.S. dollars, or 0.07 percent, to settle at1,212.10 dollars per ounce.
• Gold was put under pressure as the U.S. Dollar Index rose by 0.49 percent to 100.79 as of 17: 00 GMT. The index is a measure of the dollar against a basket of major currencies.
• A report released on Wednesday by the U.S. Department of Labor showed the consumer price index increasing by 0.3 percent during the month of December, which is a 2.1 percent increase from the same period last year. Analysts note that this report was on the lower end of expectations, but is within the consensus range and as a result is likely to only give minor support to the precious metal.
• In addition to the reports released on Wednesday, housing starts, weekly jobless claims, and Philadelphia Fed business outlook reports are due on Thursday, and no economic reports are expected on Friday.
• Silver for March delivery rose 12.6 cents, or 0.73 percent, to close at 17.274 dollars per ounce.
• Gold prices on Thursday held on to their losses from the previous session, when they fell 1 percent on a strong dollar, after Federal Reserve Chair Janet Yellen advocated lifting U.S. interest rates gradually.
• Spot gold XAU= was largely flat at $1,203 per ounce by 0100 GMT. The bullion hit an eight-week high of $1,218.64 on Tuesday, but fell 1 percent in the previous session as dollar strengthened.
Reference: Xinhua
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