Gold Rises in Asia, Near-Term Outlook Weak; Precious Metals Lower

Gold was a touch firmer on modest investment demand in Asia Thursday, but the near-term outlook suggests some weakness as physical demand for the metal wanes due to subdued trading activity in China ahead of the Lunar New Year holiday next week.
Spot gold was at $1,678.90 a troy ounce at 0425 GMT--up $1.60 from its previous close.
With all U.S. major economic data out of the way ...