Gold rose 1 percent on Thursday as weaker U.S. economic data boosted hopes that the Federal Reserve will maintain its monetary stimulus, allaying fears that the U.S. central bank may stop buying assets soon.
Gold fell below $1,600 an ounce to a seven-month low, as rumors of a troubled hedge fund forced to liquidate positions triggered a sell-off of commodities.
Gold slipped Monday but was off its six-month low, helped by buying from Asia, where Chinese participants returned to the market from a one-week holiday.
Gold tumbled to a six-month low on Friday, breaking through technical support near $1,630 an ounce, as the euro weakened against the dollar ahead of a G-20 meeting.
Gold fell below $1,650 an ounce after data showed disappointingly small growth in U.S. retail sales in January, while some investors stayed at the sidelines ahead of a G20 meeting later this week, which is expected to set the tone for the gold trade.
Gold futures settled nearly unchanged at $1,649 per ounce, as the dollar fell following a statement from the Group of Seven industrialized countries reaffirming commitment to market-determined exchange rates.
Gold eased after the European Central Bank (ECB) left interest rates unchanged and as the focus turns to an imminent press conference that could give further clues on monetary policy.
Gold edged higher, recovering early losses, as stocks came under pressure from renewed concerns over the euro zone economy, and on caution ahead of a European Central Bank meeting later this week
Platinum rose after mostly upbeat U.S. data signaled the economic recovery is gaining traction, with a soft earnings update from the world's biggest platinum miner and strong monthly U.S. car sales reports adding to support.
Gold fell nearly one percent on Thursday as investors disappointed by its failure to rally further on the previous day's soft U.S. growth reading cashed in gains.
Gold rose after data showed the U.S. economy unexpectedly contracted in the fourth quarter, and stayed higher as the Federal Reserve left in place its bond-buying stimulus plan.
Gold snapped a four-day losing streak, but gains were limited as investors sought further indicators of U.S. economic strength, including a Federal Reserve statement later in the week.
Gold edged lower on Monday as investors remained cautious ahead of an eagerly awaited U.S. Federal Reserve meeting, which should disclose more details on the Fed's quantitative easing policy.
Gold prices fell to a two-week low after the European Central Bank said banks would repay 137 billion euros ($183.2 billion) in cheap loans, which reassured investors the euro zone banking system was stabilizing.