Gold Remains Above 1242 after Mixed U.S. Economic Numbers

Gold ended higher on Thursday after mixed U.S. economic numbers weighed on the dollar, but the metal was still seen vulnerable to further losses as investor interest remained lackluster.

The Philadelphia Fed’s index showed that the mid-Atlantic region in the U.S. gained momentum in January but firms’ outlooks for the months ahead worsened. Separately, U.S. consumer prices rose by the most in six months in December but were in line with expectations.

Spot gold was unchanged at $1,242 an ounce. It touched a one-month peak of $1,255 on Tuesday.  U.S. gold futures for February delivery settled $1.90 higher at $1,240.20 an ounce.


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.