Gold futures dropped marginally on Wednesday as investors weighed some mixed economic data from the US with housing starts rising more than expected, while building permits issued dropped unexpectedly in December. Gold prices weakened further as profit-taking entered the market following the reports of a proposed bond-buying program for the European Central Bank (ECB).
Gold futures for February settled down 0.04 percent at $1,293.70 an ounce on the Comex division of the New York Mercantile Exchange. While spot gold was up 0.1 percent at $1,294.61 an ounce.
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