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Gold falls ahead of economic data

CHICAGO
2024-01-23 04:04

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CHICAGO, Jan. 22 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Monday ahead of a slew of economic data this week.

The most active gold contract for February delivery fell 7.10 U.S. dollars, or 0.35 percent, to close at 2,022.20 dollars per ounce.

U.S. manufacturing purchasing managers' index (PMI) reports will be out on Wednesday; U.S. fourth-quarter gross domestic product (GDP) is due out on Thursday; and the Federal Reserve's preferred inflation indicator, U.S. personal consumption expenditures data will come on Friday.

The Bank of Japan will announce its first interest rate decision of 2024 on Tuesday, followed by the European Central Bank on Thursday.

The New Hampshire Republican presidential primary is on Tuesday. And the Federal Reserve monetary policy meeting will be held next week.

The Conference Board said Monday that its Leading Economic Index fell 0.1 percent in December, having fallen 0.5 percent in November, marking 21 months of unceasing decline. Economists had expected the index to fall 0.3 percent.

Silver for March delivery fell 41.50 cents, or 1.83 percent, to close at 22.296 dollars per ounce. Platinum for April delivery fell 4.00 dollars, or 0.44 percent, to close at 903.00 dollars per ounce.
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