Investing.com - Gold prices traded flat on Friday, despite the release of bearish data, showing the U.S. economic suffered its weakest first-quarter growth in three years while consumer sentiment dipped in April.
Gold for June delivery on the Comex division of the New York Mercantile Exchange added $2.23, or 0.18%, to $1,268.13 a troy ounce by 13:48 EDT.
Gold prices struggled to capitalise on a raft of sluggish U.S. economic data, as consumer sentiment fell more than expected while U.S. economic growth slowed in the first quarter of the year.
Gross domestic product grew at a 0.7% annual rate in the first three months of 2017, according to the Bureau of Economic Analysis, well below the 2.1% growth at the end of last year.
Meanwhile, the University of Michigan reported its Consumer Sentiment Index hit 97 in April, slightly below economists’ expectations for a reading of 98.
Elsewhere, Secretary of State, Rex Tillerson stoked geopolitical tensions, after he said on Friday, that the threat of North Korea launching a nuclear attack on its neighbours was "real".
A slump in dollar failed to fuel demand for the yellow metal, as the U.S. Dollar Index fell to 99.84, down 0.18% by 13:38 EDT.
Dollar-denominated gold is sensitive to moves in the dollar – A dip in the dollar makes dollar-denominated assets such as gold cheaper for holders of foreign currency and thus, increases demand.
Silver futures traded at $17.283, down 0.29%, a troy ounce while copper gained 0.50% to $2.606.
Platinum traded flat at $947.55 while natural gas rose by 1.70% to $3.294.