WASHINGTON (dpa-AFX) - Gold prices traded slightly lower on Thursday after a four-day advance, supported by increased expectations of an interest rate cut from the Federal Reserve next week.
Spot gold was marginally lower at $2,715.91 per ounce in European trade while U.S. gold futures dipped 0.3 percent to $2,748.50.
Traders booked profits after prices hit a more than one-month high the previous day due to various factors including, increased geopolitical tensions, Fed rate cut expectations and China resuming gold purchases.
U.S. inflation data released on Wednesday also came in line with forecast.
The Federal Reserve is widely expected to lower rates by 25 basis points at its Dec. 17-18 meeting, but the rate path beyond December is less certain.
U.S. producer price inflation data for November along with a report on weekly jobless claims due later in the day may provide further insights into the economic and rate outlook.
The focus also shifted to the European Central Bank (ECB) rate decision later in the day.
The ECB is widely expected to cut its benchmark rates by 25 basis points for the third consecutive meeting, citing weaker economic growth and moderating inflation.
Earlier today, the Swiss National Bank cut its interest rate by 50 basis points, its biggest reduction in almost 10 years amid an ongoing tussle with depressed inflation and a strong Swiss franc.
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