Gold slips to $1,178 an ounce after GDP data

Gold futures slipped in thinly-traded holiday action on Tuesday as solid U.S. growth data pushed the greenback higher and made dollar-denominated commodities more expensive for foreign buyers.

Gold for February delivery GCG5, +0.06%  declined $1.80, or 0.2%, to settle at $1,178.00 an ounce on the Comex division of the New York Mercantile Exchange. For the week, gold is down $18 an ounce, or 1.5%.