Gold declined to $1,066.70 (-0.28%) as weak data from top consumer China raised concerns over demand and recent robust data on the U.S. economy reaffirmed expectations for a rate hike in December. Higher rates would harm demand for the non-interest-paying precious metal.

Chinese industrial profits fell by 4.6% y/y in October marking the fifth consecutive month of declines. These data suggest that China's economy might miss its growth targets.

Gold is on track to post a nearly 1% decline this week.