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Gold prices fell on Thursday after hitting a 3-1/2-month high the session before, pulled down as investors took profits and as the US dollar firmed.
Spot gold was down 0.4 percent at $1,306.72 an ounce at 0333 GMT. US gold futures dropped 0.8 percent to $1,307.80 an ounce.
Dubai gold prices are Dh159 for 24-karat and 22-karat can be bought for Dh149.50.
That meant that gold, which had rallied $85 from nearly 5-month lows hit in mid-December, posted its first day of losses in nearly three weeks.
"People are looking to lock in some gains after a pretty strong rally over the past weeks," said ANZ analyst Daniel Hynes.
"Geopolitical issues have certainly been a huge power point of the gold's rally into the year-end ... It is going to be a US dollar type story going forward with markets taking a neutral view."
The dollar was firm on Thursday in the wake of upbeat US data.
US factory activity increased more than expected in December, boosted by a surge in new orders growth, in a further sign of strong economic momentum at the end of 2017.
Minutes from the Fed's Dec. 12-13 meeting were seen as more hawkish than anticipated, indicating the central bank is still poised to raise interest rates several times this year.
The minutes suggested that the central bank would continue to pursue a gradual approach in raising rates but could pick up the pace if inflation accelerates.
Gold is highly sensitive to rising U.S. interest rates as they increase the opportunity cost of holding non-yielding bullion, while boosting the dollar, in which it is priced.
The short-term technical outlook was also pressuring gold prices, with the 14-day relative strength index (RSI) touching 75 on Tuesday, it highest since September 2017. An RSI above 70 indicates a commodity is overbought and could herald a price correction, analysts said.
Spot silver fell 0.8 percent to $16.99 an ounce, after hitting a six-week high on Wednesday at $17.24.
Spot platinum was down over 1 percent at $945.10.
Spot palladium dropped 0.2 percent to $1,080.97, having marked an all-time high on Tuesday at $1,096.50.
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