Gold trades near seven-week low as demand weighed against data

London, Apr 3. Gold today traded at nearly seven-week low as investors weighed improving US data that adds to the case for reduced stimulus against signs of more physical demand. Gold fell 0.2 per cent to USD 1,287.41, while silver was little changed at USD 19.96 an ounce. Australia and New Zealand Banking Group Ltd's physical gold demand gauge accelerated toward the end of March, analysts said. Bullion rose 0.9 per cent yesterday, after reaching USD 1,277.79 an ounce on April 1, the lowest since February 11. Federal Reserve Chair Janet Yellen said last month the central bank may end bond buying this fall and increase borrowing costs six months after that.