Gold futures eased Friday as stronger-than-expected U.S. gross domestic product data reduced investor desire for the metal as a haven.
The most-actively traded contract, for April delivery, was recently down 60 cents at $1,434.30 U.S. a troy ounce on the Comex division of the New York Mercantile Exchange.
Gross domestic product, the value of all the goods and services produced in an economy, rose at an inflation-adjusted annual rate of 3.1% in the October to December period, the Commerce Department said Friday. Economists had expected GDP to be revised up to a 3.0% growth rate in the government's third estimate for the final three months of last year.
The stronger data caused the U.S. dollar to strengthen slightly, weighing on gold by making the dollar-denominated metal more expensive for foreign buyers, damping demand.
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