Gold Flat Ahead of US Data Release

International spot gold eased on Wednesday after the optimism over the US economy. While, traders and speculators are cautious ahead of Swiss referendum on November 30.

Traders await the release of US economic data including jobless claims, consumer spending, new home sales and durable goods orders to be released later today. The upcoming data will lead to further direction of the gold sentiment.

Gold was subdued and eased around $1,197 an ounce. Markets are closed tomorrow on account of Thanksgiving holiday.

The U.S. government on Tuesday upgraded its number on third quarter gross domestic product(GDP) to 3.9 per cent on Tuesday from 3.5 per cent reported last month.

Gold futures for December 2014 contract, at MCX, is trading at Rs. 26,338 per 10 grams, marginally up by 0.05 per cent, after opening at Rs. 26,363, against the previous closing price of Rs 26,326. It touched an intra-day high of Rs 26,417.

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