Gold falls amid investors booking profits before ECB meeting

Source: Investing.com
© Scanpix/Reuters
On Thursday gold in the US declined due to investors booking profits ahead of the ECB meeting. Over the night from Wednesday gold remained above $1,300 level amid weak data on the US building permits, whereas housing starts met expectations and rose. Futures for February delivery dropped $7.60 and traded at $1,286.10 per troy ounce, compared to Wednesday's weekly high of $1,307.00. However, the yellow metal added approximately 10% in 2015 as investors sought safety from global financial market volatility.
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