Gold prices fell as data boosted the dollar

                                                                                    INQUIRY

      Gold prices fell to a two-week low on Thursday as better-than-expected U.S. economic data helped the dollar recover, and gold prices will fall for the first month in five months.
Spot gold fell 0.4% to $1,314 an ounce at 1849 GMT, after hitting its lowest level since February 15 at $1,312.43.
U.S. gold futures closed 0.4% lower at $1,316.1.
"At present, gold is more data-driven. Gross domestic product (GDP) data are better than expected, which is the main reason for the fall in gold prices, "said Phil Streible, senior commodity strategist at RJO Futures.
He added that after the data were released, the dollar strengthened, hurting gold.
The dollar regained some momentum against six major currencies after figures released by the U.S. Department of Commerce showed GDP grew at an annualized rate of 2.6% in the fourth quarter.


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