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Gold traded near a six-month high in New York, as investors weighed concern about tension between Ukraine and Russia and slowing Chinese economic growth against speculation prices climbed too fast.
Bullion advanced 14 per cent this year, rebounding from the biggest annual drop since 1981, as concern economic growth in the US and China is slowing and the crisis in Ukraine spurred demand for a haven. China's retail sales, industrial output and investment last month trailed estimates, data showed on Thursday. The dollar reached the lowest level against the euro since 2011, while a technical gauge indicated gold may be set to retreat.
Gold for April delivery lost 0.1 per cent to $1,368.90 an ounce by 7:32 am on the Comex in New York. It reached earlier today $1,375.70, the highest since September 10.
Futures volume was 49 per cent above the average for the past 100 days for this time of day, data compiled by Bloomberg showed. Bullion for immediate delivery added 0.1 per cent to $1,368.43 in London.
The metal's 14-day relative strength index was at 68.5, near a level of 70 that signals to some who study technical charts that prices may be set to decline. Holdings in gold- backed exchange-traded products fell 1.9 tonnes on Wednesday, the first drop in a week, data compiled by Bloomberg show.
Silver for May delivery lost 0.3 per cent to $21.29 an ounce in New York. Platinum for April delivery was little changed at $1,475.90 an ounce. Palladium for June delivery declined 0.1 per cent to $776.25 an ounce.
European Union foreign ministers are prepared to draft a series of punitive measures against Russia including asset freezes and visa curbs at the beginning of next week, German Chancellor Angela Merkel said in Warsaw. Russia is the biggest palladium miner.
Production losses at the world's largest platinum companies caused by a seven-week strike on Wednesday eclipsed those from stoppages in 2012 as talks over pay with the South African union leading the walkout remain deadlocked. South Africa is the largest producer of platinum and second-biggest for palladium.
