Gold futures fall as U.S. GDP data lifts the dollar

Gold futures headed lower on Thursday, after upbeat U.S. economic data gave boost to the U.S. dollar and the Federal Reserve left open the possibility of a interest-rate hike in September.

August gold GCQ5, -0.43%  traded at $1,089.70 an ounce on Comex, down $2.90 or 0.3%. December gold GCZ5, -0.41% which is now the most-active contract, traded at $1,090, down $3.30, or 0.3%.

The contracts have traded as low as roughly $1,081 an ounce, according to FactSet data, meaning it is continuing to wallow close to levels last seen in early 2010.

The report on gross domestic product was the main factor driving prices lower, said Colin Cieszynski, chief market strategist at CMC Markets.

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