WASHINGTON (dpa-AFX) - Gold prices edged lower on Thursday, U.S. bond yields edged up and the dollar traded firm as investors fret over the impact of worsening inflation on interest rates, economic growth and corporate earnings.
Spot gold slid 0.2 percent to $1,850.06 per ounce, while U.S. gold futures were down 0.2 percent at $1,852.40.
Investors await the European Central Bank's monetary policy announcement due later today, as well as the crucial data on U.S. inflation due on Friday for clues on the pace of rate rises.
The European Central Bank will announce its interest rate decision at 7:45 am ET. The ECB is expected to hold its main refi rate at a record low zero percent and the deposit rate at -0.50 percent.
The central bank is all set to announce an imminent end to its asset purchase program and signal its first-rate hike in over a decade to combat rising inflation.
In economic releases, U.S. weekly jobless claims for the week ended June 4 are due out in the New York session.
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