Gold futures on the COMEX division of the New York Mercantile Exchange fell from 11-month high on Wednesday as stronger-than-expected economic data boosted the U.S. dollar.
The most active gold contract for December delivery went down 4.80 dollars, or 0.36 percent, to settle at 1,314.10 dollars per ounce.
Earlier Wednesday, the U.S. Commerce Department revised its real gross domestic product (GDP) increase in the second quarter of 2017 to an annual rate of 3.0 percent, from a previous estimate of 2.6 percent.
The upbeat U.S. economic data supported the weak U.S. dollar and prompted gold futures to retreat following a three-session streak of gains.
The U.S. dollar Index posted an increase of 0.53 percent to reach 92.82 as of 1811 GMT.
The index is a measure of the dollar against a basket of other major currencies. When the dollar goes up, gold futures will fall.
Gold is now consolidating above the 1,300 U.S.dollar level, despite the on-going geopolitical risks on the Korean Peninsula.
As for other precious metals,silver for December delivery fell 1.3 cents, or 0.07 percent, to close at 17.503 dollars per ounce. Platinum for October went down 8.30 dollars, or 0.83 percent, to settle at 995.20 dollars per ounce.
The most active gold contract for December delivery went down 4.80 dollars, or 0.36 percent, to settle at 1,314.10 dollars per ounce.
Earlier Wednesday, the U.S. Commerce Department revised its real gross domestic product (GDP) increase in the second quarter of 2017 to an annual rate of 3.0 percent, from a previous estimate of 2.6 percent.
The upbeat U.S. economic data supported the weak U.S. dollar and prompted gold futures to retreat following a three-session streak of gains.
The U.S. dollar Index posted an increase of 0.53 percent to reach 92.82 as of 1811 GMT.
The index is a measure of the dollar against a basket of other major currencies. When the dollar goes up, gold futures will fall.
Gold is now consolidating above the 1,300 U.S.dollar level, despite the on-going geopolitical risks on the Korean Peninsula.
As for other precious metals,silver for December delivery fell 1.3 cents, or 0.07 percent, to close at 17.503 dollars per ounce. Platinum for October went down 8.30 dollars, or 0.83 percent, to settle at 995.20 dollars per ounce.
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