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Gold heads for best month in a year as US data disappoints

Fresh data released on Thursday showed new orders for US durable goods posted their biggest drop in 16 months in December, suggesting that growth in the world's top economy braked sharply at the end of 2015.

January 29, 2016 / 08:06 IST
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Gold steadied on Friday after recent gains that lifted the metal to its highest since November, keeping it on track to end January with its strongest monthly climb in a year.

Fresh data released on Thursday showed new orders for US durable goods posted their biggest drop in 16 months in December, suggesting that growth in the world's top economy braked sharply at the end of 2015.

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FUNDAMENTALS

* Spot gold was little changed at USD 1,114.01 an ounce by 0041 GMT. Profit-taking on Thursday caused bullion to retreat from a 12-week high of USD 1,127.80 reached the previous day. For the month, gold was up 5 percent, its biggest such gain since January last year.