WASHINGTON (dpa-AFX) - Gold dipped further from record highs reached earlier this week as a result of a firmer dollar and amid caution ahead of Fed Chairman Jerome Powell's Jackson Hole speech.
Spot gold slid 0.2 percent to $2,508.31 in European trade while U.S. gold futures were down 0.3 percent at $2,539.60.
The dollar ticked higher in early European trade, recovering from its lowest level since Dec 23 following the release of dovish minutes from the Federal Reserve meeting and a downward revision to U.S. payrolls data.
The July Fed meeting minutes showed 'vast majority' of policymakers thought move to lower borrowing costs was 'appropriate' if data continued to come in as expected.
Also, new data showed on Wednesday that U.S. job growth during much of the past year was significantly weaker than initially estimated, raising concerns the world's largest economy is slowing and the Fed has waited too long to cut interest rates.
Markets are currently pricing in a 100 percent probability of a September cut, but there is divided opinion on the quantum of the cut.
U.S. PMI and initial jobless claims figures are awaited later in the day as attention shifts to Fed Chair Powell's Friday speech at the Jackson Hole Symposium.
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