• Gold prices ended the U.S. day session lower Wednesday, as a “risk-on” trader and investor mentality has been prevalent in the world marketplace this week—evidenced by world stock markets that are on the rise and U.S. stock indexes hitting record highs on this day. Profit taking from recent gains was also featured in gold today, as prices on Tuesday hit a two-month high. February Comex gold was last down $13 an ounce at $1,197.80. March Comex silver was last down $0.205 at $16.985 an ounce.
• Gold prices held steady on Thursday after falling to 1-1/2 week lows the day before, buoyed by a weakerdollar amid uncertainty over U.S. economic and trade policy under President Donald Trump.
• Spot gold prices were firm at $1,201 per ounce at 0046 GMT. On Wednesday, they hit their lowest since Jan. 13 at $1,192.74.
• China's 2016 gold output rose 0.76 percent from the year before to 453.49 tonnes, the China Gold Association said on Wednesday.
• Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.63 percent to799.07 tonnes on Wednesday from 804.11 tonnes on Tuesday.
• Technically, February gold futures prices closed nearer the session low. The gold bears now have the overall near-term technical advantage. Gold bulls' next upside near-term price breakout objective is to produce a close above solid technical resistance at $1,225.00. Bears' next near-term downside price breakout objective is pushing prices below solid technical support at $1,175.00. First resistance is seen at $1,200.00and then at today’s high of $1,209.30. First support is seen at today’s low of $1,192.60 and then at $1,187.50. Wyckoff's Market Rating: 4.0
Reference: Reuters, Kito
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