Gold was also headed for its second monthly decline and silver looked set for a fourth monthly drop in a row.
FUNDAMENTALS
Spot gold was little changed at $1,200.12 an ounce by 0038 GMT. The metal fell 1 percent on Thursday, when it also touched its lowest since Oct. 6 at $1,195.70.
Silver was also steady after a near 4 percent drop in the previous session, when it fell to $16.30 - its lowest since early 2010.
Data on Thursday showed that a smaller trade deficit and surge in defense spending buoyed US economic growth in the third quarter. Gross domestic product grew at a higher-than-expected annual pace of 3.5 percent.
Bullion was also hurt after the Federal Reserve said earlier in the week that it would end its monthly bond purchases and largely dismissed financial market volatility, a slowdown in Europe and a weak inflation outlook as factors that might undercut progress towards its unemployment and inflation goals.
The comments and the strong economic data dulled gold's appeal as a hedge, as equities and dollar remained firm.
Gold is down about 1 percent in October - its second monthly drop in a row, while silver has lost nearly 3 percent.
Reflecting bearish sentiment, SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.16 percent to 741.20 tonnes on Thursday, a six-year low.
Elsewhere, China is investigating a surge in precious metals exports in September, China Business News reported on its website on Thursday, in a sign of suspected irregularities in trade numbers.