Gold edged slightly higher on Thursday, as the dollar remained under pressure after the release of a batch of mixed U.S. economic data.
New orders for U.S.-made capital goods rose more than expected in November. Other data on Thursday showed the economy grew faster than previously estimated in the third quarter, but the number of Americans applying for unemployment aid hit a six-month high last week and U.S. consumer spending increased modestly in November.
."Despite the current retreat in the dollar, traders have already positioned themselves for a neutral to lower end of the year for gold, with the next support level in the $1,123 area, as the focus remains on the hawkish message of the Fed, which signaled three rate increases in 2017," ActivTrades chief analyst Carlo Alberto de Casa said.