WASHINGTON (dpa-AFX) - Gold prices fell Friday, extending modest weekly losses amid another flurry of mixed U.S. economic data.
Traders await next week's interest rate decision from the Federal Reserve.
Gold was down $5.40 to $1312, hitting a two-week intraday low in the process.
New residential construction in the U.S. showed a sharp pullback in the month of February, according to a report released by the Commerce Department on Friday.
The report said housing starts plunged by 7.0 percent to an annual rate of 1.236 million in February after jumping by 10.1 percent to a revised 1.329 million in January.
A preliminary report released by the University of Michigan on Friday showed an unexpected improvement in U.S. consumer sentiment in the month of March.
The preliminary reading on the consumer sentiment index for March came in at 102.0, up from the final February reading of 99.7. Economists had expected the index to edge down to 99.3.
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