Investing.com - Gold prices moved lower on Wednesday in a quiet trading session void of major U.S. economic indicators, pressured downward by a firmer dollar.
Gold and the dollar tend to trade inversely with one another.
On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were down 0.40% at $1,158.40, up from a session low of $1,156.70 and off a high of $1,169.40.
The December contract settled up 0.28% at $1,163.00 on Tuesday.
Futures were likely to find support at $1,156.50 a troy ounce, Tuesday's low, and resistance at $1,179.00, last Friday's high.
Soft European data sent the dollar gaining on Wednesday, which came at gold's expense.
Earlier Wednesday, Eurostat, the European Union's statistical office, reported that industrial production in the euro area increased by 0.6% in September, missing forecasts for a monthly gain of 1.0%. Industrial production in August fell by 1.4%.
Year-on-year, industrial production inched up 0.6% in September from a year earlier, beating expectations for a 0.2% decline and after dropping at a rate of 0.5% in the preceding month.
The lackluster report stoked concerns over the outlook for economic growth in the single currency bloc after weak Italian data on Monday fueled fears that its economy is falling back into a recession.
Meanwhile, the dollar saw demand due to ongoing expectations that the U.S. economy will continue to recover while European and Asian economies take steps to loosen monetary policy to ward off deflationary pressures.
Meanwhile, silver for December delivery was down 0.22% at $15.643 a troy ounce, while Copper futures for December delivery were down 0.26% at $3.025 a pound.