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Gold Edges Lower After Recent Gains

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Gold prices edged lower in European trade on Friday after three consecutive sessions of gains.

Gold slipped 0.3 percent to $1,750.30 per ounce, while U.S. gold futures were up 0.3 percent at $1,750.75.

The dollar index held near three-month lows against a basket of major rivals, helping cap bullion’s downside.

The dollar is also on course for a weekly decline on hopes for slower interest-rate hikes in the United States.

The yield on the benchmark 10-year Treasury note eased by two basis points to 3.6887 percent as investors continued to absorb the Federal Reserve’s November meeting minutes published earlier in the week.

The minutes reinforced investor expectations of less aggressive interest rate hikes by the Federal Reserve in its upcoming meetings.

Elsewhere, the ECB’s October meeting minutes suggested the central bank might ‘pause’ monetary tightening if there was a prolonged and deep recession.

U.S. markets will close early today as trading resumes after a holiday on Thursday for Thanksgiving.

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