- Spot gold gained 0.3 percent to $1,177.31 an ounce by 0020 GMT, not too from a three-week low of $1,170.17 hit earlier in the week.
- The metal has lost about 1.5 percent for the week. Bullion lost ground this week after data showed the U.S. economy grew in the third quarter at its quickest pace in 11 years.
- Other data showed initial claims for state unemployment benefits dropped for the fourth straight week, in further signs of a robust economy.
- Strong data decreases gold's appeal as a safe-haven asset.
- A higher dollar makes gold more expensive for holders of other currencies. An increase in rates is also seen to dull demand for non-interest-bearing bullion.
The material has been provided by InstaForex Company – www.instaforex.com