Gold futures drifted lower Tuesday, unable to extend a relief rally that has seen prices rise from the lowest in more than five years.
February gold settled $6.50, or 0.6%, lower at $1,074.10/oz.
With few catalysts to drive trading this holiday shortened week, gold is likely to remain range-bound in the coming days.
In economic news, existing home sales in the U.S. fell by much more than anticipated in the month of November, according to a report released by the National Association of Realtors.
Earlier, the Commerce Department reported a slight downward revision to third quarter economic growth.
The report said real gross domestic product increased by 2.0 percent in the third quarter compared to the previously estimated 2.1 percent growth.
The material has been provided by InstaForex Company – www.instaforex.com