CHICAGO — Gold futures on the COMEX division of the New York Mercantile Exchange fell on Tuesday as strong U.S. economic data triggered profit taking.
The most active gold contract for December delivery fell 12.5 U.S. dollars, or 0.67 percent, to close at 1,854.1 dollars per ounce.
U.S. Commerce Department reported on Tuesday that U.S. retail sales rose 1.7 percent in October, beating market expectations and showing American consumer spending remained strong.
The Federal Reserve reported Tuesday that U.S. industrial production rose 1.6 percent in October after a 1.3-percent plunge in September, beating market estimate.
A stronger dollar also dumped gold.
Silver for December delivery fell 16.1 cents, or 0.64 percent, to close at 24.944 dollars per ounce. Platinum for January delivery fell 22.4 dollars, or 2.04 percent, to close at 1,074.5 dollars per ounce.
