Gold prices are lower Thursday morning, falling to a one-week low, as traders await the Swiss referendum on gold reserves. Switzerland is holding a national referendum this Sunday that would require the central bank to hold a minimum of 20 percent of its assets in gold.
Gold futures for February delivery are down $2.30 or 0.19 percent at $1,195.50 an ounce.
On Wednesday, gold futures ended down $0.30 at $1,197.05 an ounce.
Gold settled lower yesterday despite the dollar weakening a bit on the back of some largely soft economic data from the U.S.
Data from the Labor Department showed first-time claims for unemployment benefits to have unexpectedly increased in the week ended November 22.
A report from Thomson Reuters and the University of Michigan showed consumer sentiment to have improved less than previously estimated in November.
Additionally, a report from MNI Indicators showed Chicago-area business activity to have risen at a notably slower rate in November, partly due to a significant slowdown in the pace of growth in new orders. Meanwhile, pending home sales in the U.S. unexpectedly dropped in October but remained at a healthy level, a National Association of Realtors report showed.
Silver for March delivery is down $0.198 or 1.19 percent at $16.413 an ounce. Meanwhile, copper is down marginally at $2.955 per pound.
In economic news from eurozone today, data from the European Commission showed eurozone economic sentiment to have unexpectedly improved with the indicator rising to 100.8 in November, up 100.7 in the previous month.
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