LONDON: Gold prices fell on Thursday, snapping three days of gains, as global stocks rallied and the dollar extended gains after strong US economic data.

US retail sales increased 1.2 percent in May, topping the 1.1 percent growth expected by economists. Separately, US import prices rose in May after 10 months of declines, while weekly jobless claims rose slightly more than expected but remained in territory consistent with a strengthening labor market.

Spot gold was down 0.5 percent at $1,179.91 an ounce at 1439 GMT, while US gold futures for August delivery were down $7.00 an ounce at $1,179.50.

The metal hit a one-week high of $1,192.10 on Wednesday. It has held largely in a $50 range around $1,200 since mid-March.

Silver was unchanged at $15.97 an ounce, while platinum fell 0.7 percent to $1,103.20 an ounce and palladium was down 0.2 percent at $740.25 an ounce.

Palladium earlier touched its lowest since April 1 at $736.00 an ounce.