• Gold futures on the COMEX division of the New York Mercantile Exchange fell on Tuesday as U.S. data and the U.S. dollar strengthened.
• The most active gold contract for February delivery fell 4.8 U.S. dollars, or 0.39 percent, to settle at1,210.80 dollars per ounce.
• Silver for March delivery fell 0.1 cents, or 0.01 percent, to close at 17.185 dollars per ounce.
• Gold held steady on Wednesday after falling from two-month highs in the previous session, buoyed by a weaker dollar and uncertainty over the policies of U.S. President Donald Trump.
• Spot gold prices were firm at $1,209.54 per ounce at 0033 GMT. On Tuesday, they hit their strongest since Nov. 22 at $1,219.59.
• The dollar index, which measures the greenback against a basket of currencies, fell 0.1 percent to 100.250.
• Technically, February gold futures prices closed near the session low. The gold bulls and bears are still on a level overall near-term technical playing field. Prices are in a five-week-old uptrend on the daily bar chart. That suggests prices can continue to trend sideways to higher in the near term. Gold bulls' next upside near-term price breakout objective is to produce a close above solid technical resistance at $1,236.00. Bears' next near-term downside price breakout objective is pushing prices below solid technical support at $1,175.00. First resistance is seen at today’s high of $1,220.10 and then at $1,225.00. First support is seen at $1,200.00 and then at $1,195.00. Wyckoff's Market Rating: 5.0
Reference: Xinhua, Reuters, Kitco
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