WASHINGTON (dpa-AFX) - Gold prices are edging lower on Thursday as the U.S. dollar stays relatively steady against most major currencies.
However, the yellow metal's downside is not any significantly pronounced as the prospects of the Federal Reserve pausing on interest rate hikes next year continue to provide the commodity a bit of support.
Gold futures for February are down $2.50, or 0.2%, at $1,247.60 an ounce.
On Wednesday, gold futures ended up $2.80, or 0.2%, at $1,250.00 an ounce.
In economic news, U.S. jobless claims numbers are due at 8:30 AM ET, along with import prices for November.
Meanwhile, markets are looking ahead to the monetary policy announcement from the European Central Bank. The ECB is set to confirm today that its four-year long quantitative easing programme, which saw the bank buying EUR 2.6 trillion worth of bonds in a bid to rescue the Eurozone economy, will conclude in December.
Copyright RTT News/dpa-AFX