LONDON—The spot price of gold was steady as investors questioned whether fresh U.S. data due later in the day would fuel fears of a U.S. slowdown.
Among the data due out are weekly jobless claims at 8:30 a,m,. EDT, followed by U.S. July leading indicators and the August Philadelphia Federal Reserve business outlook at 10 a.m.
"A negative outcome will almost certainly lift gold higher," SEB analyst Filip Petersson said. "On the other hand, an indication that U.S. slowdown fear has been exaggerated would be significantly bearish since this has been a major driver in the gold market lately."
Spot gold recently traded at $1,229.30 an ounce, unchanged on the day. Spot silver was up seven cents, or 0.4%, to $18.46 an ounce. Spot platinum was at $1,532 an ounce, up $3, or 0.2%. Spot palladium was down $2, or 0.4%, at $486 an ounce.
Traders said buying interest from India is growing, as the country gears up for its traditional wedding and festival seasons.
