Bengaluru — Gold slipped on Thursday to its lowest in nearly a week, as the dollar edged further away from three-year lows, propped up by stronger than expected US economic data. Spot gold was down 0.2% at $1,324.90 an ounce at 4.02am GMT. Earlier in the session, it touched its lowest since January 12 at $1,323.70. It fell 0.8% in the previous session, posting its worst one-day percentage decline since December 7. US gold futures for February delivery dropped 1% to $1,325.70/oz. Better than expected industrial production numbers from the US reversed gold’s trend with stop-loss selling hammering the market, MKS PAMP Group trader Jason Cerisola said. US industrial production increased more than expected in December as unseasonably cold weather at the end of the month boosted demand for heating. However, manufacturing output barely rose, pointing to moderate growth in the industrial sector. "Technically, $1,326 will act as a support and holding that could push prices to test $1,360-$1,...
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