• Gold prices were nearly unchanged on Thursday as markets anticipated U.S. jobs data due at the end of the week for guidance on monetary policy for the remainder of the year.
• Spot gold shed 0.01 percent at $1,344.56 ounce by 1:36 p.m. EST (1836 GMT). It touched $1,332.30 an ounce in the previous session, its lowest since Jan. 23.
U.S. gold futures futures for April delivery settled up $4.80, or 0.4 percent, at $1,347.90 per ounce.
• The U.S. Fed held interest rates unchanged on Wednesday but raised its inflation outlook and flagged "further gradual" rate increases.
• "One thing that could throw a wrench into the Fed’s plans to raise three times this year is wages. Employment has certainly continued to march higher with unemployment dropping, but wages have been sticky," said Chris Gaffney, president of world markets at Jacksonville, Florida-based EverBank.
• Stronger-than-expected jobs data, lower unemployment and higher wages would signal strength in the economy, and could in turn strengthen the dollar and pressure gold, Gaffney added.
• Gold gained just 3.2 percent in January as the dollar fell to three-year lows against a basket of major currencies. It hit a 17-month peak of $1,366.07 on Jan. 25.
• Inflation worries generally boost gold, which is seen as a safe-haven against rising prices. But expectations that the Fed will raise interest rates to fight inflation make gold less attractive because it does not pay interest.
• In other precious metals, silver slipped 0.6 percent to $17.20 per ounce and platinum fell 0.5 percent to $999.50.
Palladium was 0.3 percent higher at $1,030.97 per ounce after touching $1,013.72 earlier in the session, its lowest since Dec. 18. The metal is down about 3.5 percent so far this year.
Reference: Reuters
Thai
Eng