Gold futures on the COMEX division of the New York Mercantile Exchange continued to fall on Wednesday (Thursday morning GMT ) , amid upbeat U.S. economic data .
The most active gold contract for February delivery dropped 4.1 dollars, or 0.33 percent , to close at 1225.5 U.S. dollars per ounce .
Automatic Data Processing Inc. . ( ADP ) on Wednesday said private companies added 238,000 jobs in December , the biggest gain since November 2012 .
A further recovery in the job market pushed the dollar , which in turn weakens the price of gold .
Gold prices fell further in electronic trading after the release of the U.S. Federal Reserve 's last meeting . Released after the official closing of the gold trade in the COMEX , the minutes showed that Fed officials largely agree on the decision to start a program to cut its massive bond purchases , since they predict the economic recovery will continue and the labor market will continue to improve .
As long as the Fed maintains its decision to cut back its bond purchases , a golden opportunity to go up will be minimal , market analysts said , as quoted by Xinhua . They predict that the trend for most of the gold in this year will be negative .
Silver for March delivery lost 24.8 cents , or 1.25 percent , to close at 19.539 dollars per ounce . Platinum for April delivery dipped 1.2 dollars , or 0.08 percent , to close at 1414.2 U.S. dollars per ounce .
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