Gold Down on Profit-taking

Reuters reported that gold fell on profit-taking spurned by better-than-expected U.S. economic growth.

As reported in the market news:

Spot gold was down 0.5 percent at $1,658.30 an ounce by 11:57 a.m. EDT (1557 GMT), on track for its biggest one-day drop in two weeks.

U.S. gold futures for December delivery were down $8.70 an ounce at $1,661, with trading volume on track to finish below average, preliminary Reuters data showed.

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