Gold ended the week with a fall of $ 8.50, which is 0.69 percent, after four consecutive positive weeks. However, the price has remained above the key level of $ 1,200. "It just continues to build a base well above $1,200," said James Steel, chief metals analyst for HSBC Securities in New York.
A gradual path to higher rates is seen as less of a threat to gold prices than a swift series of increases.
In the week ahead, investors will be looking ahead to Friday’s revised data on U.S. fourth quarter gross domestic product for a fresh reading on the strength of the economy.
Reports on U.S. durable goods orders and consumer confidence will also be in focus.
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