Gold prices were flat Tuesday, giving up early gains despite mixed economic data that may give the Federal Reserve reason to pause before raising interest rates.
The Institute for Supply Management showing an unexpected contraction in U.S. manufacturing activity.
The ISM said its purchasing managers index dropped to 48.6 in November from 50.1 in October, with a reading below 50 indicating a contraction in manufacturing activity.
Later, a top Federal Reserve official said he wants the central back to delay raising interest rates until the economy is on more solid footing.
Chicago Fed President Charles Evans sees the U.S. economy growing only 2.5 percent next year.
Feb. gold settled at $1,063.50/oz on Comex, down $1.80, or 0.2%, staying near a recent 5-year low.
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