<p>Gold prices inched lower on Thursday due to a stronger dollar, while investors awaited the release of US non-farm payrolls data for April due later this week. </p>.<p>Spot gold was down 0.1 per cent at $1,785.05 per ounce by 6:56 am. US gold futures was steady at $1,785.10 per ounce.</p>.<p>The dollar index hovered close to a two-week high, making gold more expensive for other currency holders. US private payrolls surged by the most in seven months in April as companies rushed to boost production amid a surge in demand, suggesting the economy gained further momentum early in the second quarter, powered by massive government aid and rising Covid-19 vaccinations.</p>.<p>Investors look forward to Friday's US monthly jobs report, which is expected to show nonfarm payrolls increased by 978,000 jobs last month.</p>.<p>The US economy may be growing more quickly and unemployment falling faster than the core of Federal Reserve policymakers projected in March, Fed Governor Michelle Bowman said on Wednesday.</p>.<p>Meanwhile, Chicago Federal Reserve Bank President Charles Evans on Wednesday reiterated his worries about reaching the Fed's 2 per cent inflation goal and said he expects monetary policy to stay super-easy for some time. Lower interest rates decrease the opportunity cost of holding non-yielding bullion.</p>.<p>The Bank of England will say on Thursday Britain's economy is heading for a much stronger recovery this year than it previously expected and it might start to slow its pandemic emergency support.</p>.<p>Palladium fell 0.1 per cent to $2,968.78 per ounce, after scaling an all-time high of $3,017.18 per ounce on Tuesday, driven by supply shortfalls. Silver was down 0.5 per cent at $26.37 per ounce, while platinum dipped 0.4 per cent to $1,220.16.</p>
<p>Gold prices inched lower on Thursday due to a stronger dollar, while investors awaited the release of US non-farm payrolls data for April due later this week. </p>.<p>Spot gold was down 0.1 per cent at $1,785.05 per ounce by 6:56 am. US gold futures was steady at $1,785.10 per ounce.</p>.<p>The dollar index hovered close to a two-week high, making gold more expensive for other currency holders. US private payrolls surged by the most in seven months in April as companies rushed to boost production amid a surge in demand, suggesting the economy gained further momentum early in the second quarter, powered by massive government aid and rising Covid-19 vaccinations.</p>.<p>Investors look forward to Friday's US monthly jobs report, which is expected to show nonfarm payrolls increased by 978,000 jobs last month.</p>.<p>The US economy may be growing more quickly and unemployment falling faster than the core of Federal Reserve policymakers projected in March, Fed Governor Michelle Bowman said on Wednesday.</p>.<p>Meanwhile, Chicago Federal Reserve Bank President Charles Evans on Wednesday reiterated his worries about reaching the Fed's 2 per cent inflation goal and said he expects monetary policy to stay super-easy for some time. Lower interest rates decrease the opportunity cost of holding non-yielding bullion.</p>.<p>The Bank of England will say on Thursday Britain's economy is heading for a much stronger recovery this year than it previously expected and it might start to slow its pandemic emergency support.</p>.<p>Palladium fell 0.1 per cent to $2,968.78 per ounce, after scaling an all-time high of $3,017.18 per ounce on Tuesday, driven by supply shortfalls. Silver was down 0.5 per cent at $26.37 per ounce, while platinum dipped 0.4 per cent to $1,220.16.</p>