• Gold fell on Thursday as a bounce in the dollar prompted some buyers to cash in gains after its biggest one-day rally in nearly a year, though uncertainty over the outlook for the Trump presidency underpinned the metal near two-week highs.
• Gold surged nearly 2 percent on Wednesday, its biggest one-day jump since Britain's June vote to leave the European Union, on reports that U.S. President Donald Trump had tried to intervene in an investigation into alleged Russian interference in last year's U.S. election.
• "Late longs from yesterday are getting punished as bullion drops to $1,247, with stocks and dollar regaining a little traction amid increasing realization that the drama in Washington could take many months to play out," said Tai Wong, director of base and precious metals trading for BMO Capital Markets in New York.
• Spot gold <XAU=> was down 1.1 percent at $1,246.92 an ounce by 2:32 p.m. EDT (1832 GMT), having touched its highest since May 1 at $1,265.04. It fell to a session low of $1,245.40, around the 200-day moving average, after five straight sessions higher.
• U.S. gold futures <GCv1> for June delivery settled down 0.5 percent at $1,252.80.
• The U.S. dollar index <.DXY> rebounded from Wednesday's currency six-month low after stronger-than-expected U.S. economic data.
• "(Gold) is seeing a pullback after yesterday's strong performance - it needs to take a breather," said Heraeus precious metals trader Alexander Zumpfe. "It ran into resistance towards $1,260."
• Current and former U.S. officials familiar with the exchanges told Reuters on Thursday that Michael Flynn and other advisers to the Trump campaign were in contact with Russian officials and others with Kremlin ties in at least 18 calls and emails during the last seven months of the 2016 presidential race.
• Silver <XAG=> slipped by 1.5 percent to $16.60 an ounce.
Reference: Reuters
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