Global Stock Markets
Gold prices hovered near five-week lows on Thursday as higher U.S. bond yields and a stronger dollar dampened interest in bullion.
Worries about growing supply of U.S. government debt and inflationary pressures from rising oil prices have pushed U.S. 10-year bond yields above 3 percent for the first time in four years.
That, in turn, has helped to thrust the dollar to its strongest since January, making bullion more expensive for users of other currencies. Higher bond yields, meanwhile, also reduce the attraction of non-yielding gold.
Spot gold was up 0.1 percent at $1,324.95 an ounce at 1156 GMT after on Wednesday, having touched its lowest since March 21 at $1,318.51.
U.S. gold futures were up 0.3 percent at $1,326.30 an ounce.
Interest from physical buyers and technical support at gold's 100-day moving average of $1,319.55 helped to prevent further falls.
Gold has been stuck in a trading range between about $1,360 and $1,310 since hitting a 1-1/2 year high of $1,366.07 in January.
It has been supported by geopolitical uncertainty, which has fuelled demand for gold as a safe haven, but has been prevented from moving higher by fears of rising U.S. interest rates that would push up bond yields and strengthen the dollar.
U.S. GDP and inflation data on Friday could give new direction to prices, said Mitsubishi analyst Jonathan Butler.
Stronger than expected economic growth or inflation would hurt gold by bolstering expectations of more rapid increases to interest rates.
Investors are also watching the European Central Bank on Thursday for clues on when it will signal an end-date for its 2.55 trillion euro ($3.2 trillion) asset-buying programme.
In other precious metals, silver was up 0.4 percent at $16.59 an ounce after falling more than 1 percent on Wednesday.
Platinum rose 0.6 percent to $911 and palladium was down 0.5 percent at $972.90.
Worries about growing supply of U.S. government debt and inflationary pressures from rising oil prices have pushed U.S. 10-year bond yields above 3 percent for the first time in four years.
That, in turn, has helped to thrust the dollar to its strongest since January, making bullion more expensive for users of other currencies. Higher bond yields, meanwhile, also reduce the attraction of non-yielding gold.
Spot gold was up 0.1 percent at $1,324.95 an ounce at 1156 GMT after on Wednesday, having touched its lowest since March 21 at $1,318.51.
U.S. gold futures were up 0.3 percent at $1,326.30 an ounce.
Interest from physical buyers and technical support at gold's 100-day moving average of $1,319.55 helped to prevent further falls.
Gold has been stuck in a trading range between about $1,360 and $1,310 since hitting a 1-1/2 year high of $1,366.07 in January.
It has been supported by geopolitical uncertainty, which has fuelled demand for gold as a safe haven, but has been prevented from moving higher by fears of rising U.S. interest rates that would push up bond yields and strengthen the dollar.
U.S. GDP and inflation data on Friday could give new direction to prices, said Mitsubishi analyst Jonathan Butler.
Stronger than expected economic growth or inflation would hurt gold by bolstering expectations of more rapid increases to interest rates.
Investors are also watching the European Central Bank on Thursday for clues on when it will signal an end-date for its 2.55 trillion euro ($3.2 trillion) asset-buying programme.
In other precious metals, silver was up 0.4 percent at $16.59 an ounce after falling more than 1 percent on Wednesday.
Platinum rose 0.6 percent to $911 and palladium was down 0.5 percent at $972.90.
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