Gold Flat After Six-day Rally

Gold futures were flat Thursday, unable to extend recent gains as traders await the first flurry of economic data in the new year.

Feb. gold was down 20 cents at $1316 an ounce, staying near 4-month peak from the previous session. Gold has rallied on a weaker dollar and expectations of low interest rates in 2018.

On the economic front, the Federal Open Market Committee’s minutes will be published at 2.00 pm ET.

ISM Manufacturing Index for the week is expected at 10.00 am ET. Economists are looking for a reading of 58.00, after 58.2 in the prior month.

The Commerce Department’s construction spending for November will be published at 10.00 am ET. The forecasters are looking for 0.6 percent growth, compared to 1.4 percent in the prior month.

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Source:: Gold Flat After Six-day Rally

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