18.01.201813:49:00UTC+00Gold Falls Most In Six Weeks

Gold futures fell Thursday amid renewed confidence that the U.S. economy is doing well.

Feb. gold dropped $12, or 0.9%, to settle at $1,327.20/oz, sliding from 4-month highs. It was the biggest one-day drop in six weeks.

A day after a rosy assessment from the Federal Reserve's Beige Book, data showed that U.S. jobless claims fell to the lowest in 45 years.

However, a report from the Commerce Department showed a steep drop in new residential construction in the month of December.

The report said housing starts tumbled by 8.2 percent to an annual rate of 1.192 million in December from the revised November estimate of 1.299 million.