Gold Eases Under $1230 on Stronger U.S. Dollar

Gold prices were little changed on Thursday, retreating further from the previous session’s seven-week high as the dollar extended gains after U.S. data pointed to a strengthening economy.

The number of Americans filing new claims for unemployment benefits fell last week, while U.S. consumer spending advanced at a brisk clip in November.

Spot gold was up 0.1 percent to $1,228 an ounce. The metal rose to a seven-week high of $1,238.20 on Wednesday, before giving up gains on steadier equity markets.

CNBC

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