Gold prices ease back a day after a sharp climb

Gold futures settled slightly lower on Thursday, easing back from Wednesday's more than 1% climb. Prices in the short term are "dependent on the strength of the U.S. economy," said Chintan Karnani, director of research at Insignia Consultants. The outlook of the U.S. economy for the fourth quarter and next year "will determine when the Federal Reserve will start withdrawing stimulus money," he said. December gold GCZ21, +0.05% edged down by $1.50, or about 0.1%, to settle at $1,751.80 an ounce.