• Gold prices rose for a second straight day on Thursday, supported by an easing dollar and weakness in U.S. Treasury yields.
Spot gold rose 0.5 percent to $1,252.30 per ounce at 0423 GMT. It rose 0.3 percent in the previous session, its largest intra-day percentage change since June 6.
The U.S. dollar slipped 0.1 percent against a basket of six major currencies, retreating from a one-month high of 97.871 set on Tuesday.
• The U.S. Treasury yield curve flattened to almost 10-year lows on Wednesday as investors evaluated the impact of hawkish Federal Reserve policy on the economy even as inflation measures are deteriorating.
• "The primary driver appears to be the flattening of the longer-dated U.S. Treasury curve," said Jeffrey Halley, senior market analyst at OANDA.
"The uncontrolled oil price spill in the futures markets may have seen some traders pushing the risk aversion button and buying gold," Halley added.
• Spot gold may bounce more into a range of $1,257 to $1,261 per ounce, as it has cleared a resistance at$1,251, according to Reuters technical analyst Wang Tao.
• The easing in dollar prices, especially its weakness against the yen is supporting gold, said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong.
"Investors are waiting for any clues on whether the timing of the next rate hike is September or December. The economic data coming out of U.S. over the next two months will be crucial," he added.
• Among other precious metals, silver gained 1 percent to $16.60 per ounce. Platinum touched its highest in a week during the session and was up 0.5 percent at $928.50 per ounce
Reference: Reuters
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