Gold futures fell Thursday morning as traders assessed a sunny Beige Book report and surging stocks.
The U.S. economy continue to expand at a “modest to moderate” pace in December and early January, the Beige Book said. Respondents were “optimistic” about 2018, as wages increased in most districts.
Holiday sales were higher than expected, and residential real estate activity was constrained only by limited housing inventory.
A seperate report from the Federal Reserve showed U.S. industrial production surged over the winter.
Meanwhile this morning, US initial jobless claims slipped to the lowest in 45 years.
The rosy assessments could prompt the Fed to raise interest rates again in the first quarter of 2018.
Gold was down $10 at $1328 an ounce, easing from 4-month highs. Silver slipped 10 cents at $17.07.
The material has been provided by InstaForex Company – www.instaforex.com
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