WASHINGTON (dpa-AFX) - Gold prices drifted lower on Wednesday as the dollar rebounded a bit from previous session's losses.
The dollar gained after a report from the Conference Board showed U.S. consumer confidence has improved by much more than anticipated in the month of December.
The dollar index, which climbed to 102.47, dropped to 102.16 subsequently, but edged higher again and was last seen at 102.30, up 0.13% from the previous close.
Gold futures for February ended down $4.40 at $2,047.70 an ounce.
Silver futures for March ended higher by $0.310 at $24.516 an ounce, while Copper futures for March settled at $3.9025 per pound, gaining $0.0080.
The Conference Board's report showed the consumer confidence index jumped to 110.7 in December from a downwardy revised 101.0 in November. Economists had expected the consumer confidence index to rise to 103.4 from the 102.0 originally reported for the previous month.
'Today's data on consumer confidence puts up another point on the scoreboard for the soft landing camp as the Conference Board's index jumped to the highest level since January of 2022,' said Charlie Ripley, Senior Investment Strategist for Allianz Investment Management.
A separate report released by the National Association of Realtors showed an unexpected rebound in U.S. existing home sales in the month of November.
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