Daily Gold Update

Source: Marketwatch

San Francisco— Gold futures modestly declined Thursday, as some traders took profits following gains in the previous session and digested the concerted move by world central banks to prop up global liquidity. Gold for February delivery, the most active contract, lost $10.50, or 0.6%, to end at $1,739.80 an ounce on the Comex division of the New York Mercantile Exchange. �We�re in no-man�s land,� said Matt Zeman, head trader and strategist at Kingsview Financial in Chicago. �People are still digesting the rally� on Wednesday and weighing how gold will be impacted by the central banks�s action, he added. Losses were tempered by a lower U.S. dollar. Gold also spent a brief time in the black following news a gauge of U.S. manufacturing activity rose in November, expanding for the 28th month.

Other metals ended lower, with silver outdoing gold and copper in the red after a last-hour attempt at gains. March silver declined 5 cents, or 0.1%, to end at $32.76 an ounce after trading mostly higher through the session. Two gauges of manufacturing activity in China showed cooling, with a state-sponsored purchasing managers� index falling to 49 in November from 50.4 in the previous month. See full story.