Gold falls at close as investors await US economic data

April gold futures slipped 0.95% to settle at $5,031 an ounce

Gold prices fell at the close of Tuesday’s trading as investors awaited key US economic data on the labor market and inflation in the world’s largest economy.

April gold futures slipped 0.95%, or $48.4, to settle at $5,031 an ounce.

February silver futures fell 2.25%, or $1.847, to $80.218 an ounce.

Precious metals came under pressure as investors turned risk-averse ahead of the US monthly jobs report due on Wednesday, as well as the release of the consumer price index on Friday.

Separately, data released earlier showed US retail sales were flat month-on-month in December, contrary to expectations for an increase, pointing to a potential slowdown in economic growth.