27.04.201808:45:00UTC+00Gold Flat After Upbeat GDP

Gold prices were flat Friday, staying near 5-week lows amid upbeat U.S. economic data.

Gold was up $1.80 at $1319 an ounce.

Economic growth in the U.S. continued to slow in the first quarter of 2018, according to a report released by the Commerce Department on Friday, although the pace of growth during the quarter still exceeded economist estimates.

GDP climbed by 2.3 percent in the first quarter compared to the 2.9 percent jump in the fourth quarter. Economists had expected GDP to increase by about 2.0 percent.

In economic news from overseas, the Bank of Japan kept its monetary stimulus unchanged as widely expected. They dropped their target date for 2% inflation.

Eurozone economic sentiment remained stable in April, survey data from European Commission showed Friday.