WASHINGTON (dpa-AFX) - Gold prices ticked lower on Thursday despite the dollar drifting lower in the wake of weak U.S. economic data released overnight.
Spot gold dipped 0.2 percent to $2,645.84 in European trade while U.S. gold futures were up 0.2 percent at $2,669.84.
The dollar was slightly softer as weaker-than-expected private sector employment and service sector activity data contributed to optimism about the outlook for interest rates.
Traders now expect a third consecutive interest-rate cut at the U.S. central bank's Dec. 17-18 meeting.
CME Group's FedWatch Tool currently indicates a 75.5 percent chance the Federal Reserve will lower interest rates by 25 basis points later this month.
U.S. weekly jobless claims data may attract some attention later in the day, although activity may be somewhat subdued ahead of the release of the more closely watched monthly jobs report on Friday, followed by inflation data for November expected next week.
Forecasts for the November employment report center on a rebound in the jobs market from the October reading.
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