• Gold edged higher on Thursday as the U.S. dollar weakened against other currencies on bets that central banks in Europe were preparing to scale back monetary stimulus, but the bullion's gains were capped by a surge in equities.
• The dollar index, which tracks the greenback against a basket of six major rival currencies, fell to its weakest since early October on Thursday at a low of 95.754.
Spot gold rose 0.2 percent to $1,251.87 per ounce at 0416 GMT.
• "Despite the headwinds being generated by a weaker dollar, more substantial gains in gold were held in check on account of the fact that the U.S. stock market soared on Wednesday," said INTL FC Stone analyst Edward Meir.
"We suspect gold will likely inch higher as we head into the latter part of the week on account of dollar weakness, although stronger U.S equities and rising rates should cap a stronger move," he added.
• "Gold strength is not enough if compared to the weakness in dollar. If this weakness in dollar continues, I think gold should go up a bit more," said Yuichi Ikemizu, Tokyo branch manager at ICBC Standard Bank.
• Among other precious metals, spot silver was up 0.4 percent at $16.84 an ounce after touching a two-week high of 16.89 early in the session.
Reference: Reuters
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