Investing.com - Gold futures traded down during the European session Friday, as a stronger greenback combined with Global growth concerns and GDP anticipation pressuring the yellow metal.
On the Comex division of the New York Mercantile Exchange, Gold futures for December delivery traded at USD1704.05 a troy ounce during the European session falling 0.52%.
It earlier traded at a session low USD1703.65 a troy ounce. Gold was likely to find support at USD1699.65 and resistance at USD1731.25.
Sentiment improved briefly on Thursday, after the U.S. National Association of Realtors said its pending home sales index rose by 0.3% in September, below expectations for a 2.1% gain.
The data came after a government report showed that durable goods orders, which include transportation items, jumped by a seasonally adjusted 9.9% in September, compared to expectations for a 7.1% gain.
Excluding volatile transportation items durable goods orders rose by a seasonally adjusted 2.0% last month, beating expectations for a 0.8% gain.
Separately, the Labor Department said the number of people who filed for unemployment assistance in the U.S. last week fell to 369,000, from 392,000 the previous week, compared to expectations for a decrease to 370,000.
The Fed also said it planned to keep its benchmark short-term rate close to zero through mid-2015.
The Federal Reserve said in September it will purchase an average of USD40 billion of mortgage-backed securities a month until the economy shows significant improvement.
Moves in the gold price this year have largely tracked shifting expectations as to whether the U.S. central bank would pump more money into the financial system.
Meanwhile, market players continued to eye developments surrounding Spain, amid ongoing uncertainty over whether the debt-strapped country is moving closer to formally requesting a bailout from its euro zone partners.
A bailout would allow the European Central Bank to step in and buy Spanish sovereign debt, which would result in reduced borrowing costs for the debt-strapped nation. But Spain has been reluctant to do so because it may come with conditions on its budget.
US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, climbed 0.17% to trade at USD80.31.
Elsewhere on the Comex, Silver for December delivery fell 1.02% to trade at USD31.738 a troy ounce while Copper for December delivery fell 0.53% to trade at USD3.532 a pound.
On the Comex division of the New York Mercantile Exchange, Gold futures for December delivery traded at USD1704.05 a troy ounce during the European session falling 0.52%.
It earlier traded at a session low USD1703.65 a troy ounce. Gold was likely to find support at USD1699.65 and resistance at USD1731.25.
Sentiment improved briefly on Thursday, after the U.S. National Association of Realtors said its pending home sales index rose by 0.3% in September, below expectations for a 2.1% gain.
The data came after a government report showed that durable goods orders, which include transportation items, jumped by a seasonally adjusted 9.9% in September, compared to expectations for a 7.1% gain.
Excluding volatile transportation items durable goods orders rose by a seasonally adjusted 2.0% last month, beating expectations for a 0.8% gain.
Separately, the Labor Department said the number of people who filed for unemployment assistance in the U.S. last week fell to 369,000, from 392,000 the previous week, compared to expectations for a decrease to 370,000.
The Fed also said it planned to keep its benchmark short-term rate close to zero through mid-2015.
The Federal Reserve said in September it will purchase an average of USD40 billion of mortgage-backed securities a month until the economy shows significant improvement.
Moves in the gold price this year have largely tracked shifting expectations as to whether the U.S. central bank would pump more money into the financial system.
Meanwhile, market players continued to eye developments surrounding Spain, amid ongoing uncertainty over whether the debt-strapped country is moving closer to formally requesting a bailout from its euro zone partners.
A bailout would allow the European Central Bank to step in and buy Spanish sovereign debt, which would result in reduced borrowing costs for the debt-strapped nation. But Spain has been reluctant to do so because it may come with conditions on its budget.
US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, climbed 0.17% to trade at USD80.31.
Elsewhere on the Comex, Silver for December delivery fell 1.02% to trade at USD31.738 a troy ounce while Copper for December delivery fell 0.53% to trade at USD3.532 a pound.