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Gold prices were flat and is on track for its largest weekly drop in seven weeks as investors turned to riskier assets, which reduced demand for the safe-haven precious metal.
Spot gold was stable at $1,263.81 an ounce. The precious metal is on course for its biggest weekly percentage decline since the week of March 10, lower by almost 1.6 percent, but is heading towards a gain of nearly 1.2 percent for April. U.S. gold futures eased 0.1 percent to $1,264.90 per ounce.
Holdings of SPDR Gold Trust, the world's biggest gold-backed exchange-traded fund, dropped 0.10 percent to 853.36 tonnes.
China's first quarter gold output dropped 9.29 percent year-on-year to 101.2 tonnes while gold consumption for the quarter rose 14.73 percent year-on-year to 304.14 tonnes, according to the official Xinhua news agency which quoted data from China Gold Association.
Switzerland's gold exports increased in March from February's decline as shipments to leading bullion consumers China, Hong Kong, and India were higher, as stated in the Swiss customs data.
