Gold Rises, Awaiting Data

Gold fell in Thursday morning in Asia as investors continued to digest the US Federal Reserve’s meeting minutes from the latest policy meeting. A stronger dollar and lower US Treasury yields also limited the yellow metal’s gains.

However, the US dollar index and bond yields fell at the beginning of the European session. The European Central Bank, for its part, is reported to raise its inflation target to 2% and make room for any needed overshoot in the outcome of its 18-month strategy review, which is scheduled for later in the day.

Today, gold is also awaiting the US jobless claims data and the oil inventories data.

Gold futures were also down 0.30% at $1,796.65. While the dollar, which usually moves in reverse with gold, rose to a three-month high on Thursday.

Yields on the benchmark 10-year US Treasury fell to their lowest since February 19 after reporting gains during the previous session.