WASHINGTON (dpa-AFX) - Gold prices were flat Wednesday amid muted reaction to the latest US GDP data.
Gold was down 70 cents, or less than 0.1%, to settle at $1,317.90/oz. Prices fell for the first time in three months amid speculation the Federal Reserve will raise interest rates three times this year.
Revised data released by the Commerce Department on Wednesday showed slightly slower than previously estimated U.S. economic growth in the fourth quarter of 2017.
The report said gross domestic product climbed by 2.5 percent in the fourth quarter compared to the previously estimated 2.6 percent increase. The downward revision to GDP growth matched economist estimates.
The Commerce Department said the slightly slower than previously estimated growth primarily reflected a slight downward revision to private inventory investment.
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