• Gold prices touched the lowest in more than one week on Thursday, as the dollar stood firm on rising U.S. Treasury yields, with investors focusing on who would replace Janet Yellen as the next chair of the Federal Reserve.
Spot gold eased 0.1 percent to $1,279.25 an ounce as of 0646 GMT after earlier hitting its lowest since Oct. 9 at $1,276.22.
U.S. gold futures for December delivery were down 0.1 percent at $1,281.40 per ounce
• U.S. President Donald Trump is set to make a decision in the "coming days" on Yellen, who is also one of the five candidates being considered for the job.
• "With U.S. yields continuing to creep slowly higher and stocks markets riding exuberantly high it will most likely take some sort of geopolitical event to break the yellow metal out of its bearish malaise," said Jeffrey Halley, senior market analyst with OANDA, in a note.
• "Depending on how the dollar goes, we might look at $1,250-60 as the next stop for gold to trade down. We don't see immediate upward catalyst for gold except for North Korea," said Richard Xu, a fund manager at China's biggest gold exchange-traded fund, HuaAn Gold.
• Spot gold may drop more to $1,263 per ounce, as it has cleared a support at $1,281, Reuters technicals analyst Wang Tao said.
Reference: Reuters
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