Gold prices declined on Monday, falling to their lowest level of the year as investor risk appetite held up despite the latest data showing China's 2018 economic growth slowing to a near three-decade low.
Comex gold futures were down $5.35, or around 0.4%, to $1,277.25 a troy ounce by 7:40AM ET (12:40 GMT). The precious metal hit a low of $1,276.80 earlier, the weakest since Dec. 28.
There will be no floor trading on the Comex on Monday because of the Martin Luther King Day holiday in the U.S. All electronic transactions will be booked with Tuesday's trades for settlement.
Meanwhile, spot gold was trading at $1,278.11 per ounce, down $3.50, or almost 0.3%.
China's fourth-quarter gross domestic product (GDP) grew at the slowest pace since the global financial crisis, easing to 6.4% on-year as expected from 6.5% in the third quarter, the National Bureau of Statistics said earlier.