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Gold futures traded at the lowest level of the session during U.S. morning hours on Thursday, after European Central Bank President Mario Draghi maintained a downbeat outlook on the euro zone economy. Market players also continued to monitor negotiations among U.S. lawmakers to avoid the looming “fiscal cliff” crisis, while looking ahead to Friday’s key U.S. nonfarm payrolls data. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,688.85 a troy ounce during U.S. morning trade, down 0.25% on the day. Prices fell by as much as 0.35% earlier in the day to trade at a session low of USD1,687.35 a troy ounce. Gold prices were likely to find support at USD1,672.55 a troy ounce, the low from November 5 and resistance at USD1,708.25, the previous day’s high.
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