WASHINGTON (dpa-AFX) - Gold prices are slightly lower Thursday morning, ahead of a slew of U.S. economic data, including weakly jobless claims and a report on consumer price inflation.
A weak reading on Chinese manufacturing activity in November and data showing eurozone private sector growth to have unexpectedly slowed to a sixteen-month low are weighing on the yellow metal.
Gold futures for December are down $2.10 or 0.18 percent at $1,191.80 an ounce.
On Wednesday, gold futures ended down $3.20 or 0.3 percent at $1,193.90 an ounce.
News reports that the referendum in Switzerland to hike the country's gold reserves to 20 percent may not find the necessary 50 percent majority support impacted the precious metal.
Fairly steady global equity markets and the dollar's persistent dollar strength also have put a cap on the recent rally.
Silver for December is down $0.122 or 0.77 percent at $16.172 an ounce. Meanwhile, copper is down $0.036 or 1.19 percent at $3.009 per pound.
The U.S. Labor Department is scheduled to come out with its consumer price inflation data for October at 8:30 am ET. Economists expect consumer prices to have dipped by 0.1 percent in October compared to the previous month, while core consumer prices may have risen by 0.1 percent.
The Labor Department is also due to release its weekly jobless claims report for the week ended November 15th at 8:30 am ET. The consensus estimate calls for a decline in claims to 284,000 from 290,000 in the previous week.
Markit is set to release flash estimate of its U.S. manufacturing purchasing managers' index for November.
At 10 am ET, the Philadelphia Federal Reserve is scheduled to release the results of its manufacturing survey. Around the same time, the National Association of Realtors will come out with its existing home sales report for October and the Conference Board will release its leading economic indicators index for October.
Copyright RTT News/dpa-AFX