Gold slips as dollar edges higher

April gold futures declined 0.2% to $5,088.5 an ounce

Gold prices fell on Thursday as investors assessed the US January jobs report, which reduced expectations of a near-term interest rate cut.

April gold futures declined 0.2%, or $10, to $5,088.5 an ounce. Spot gold fell 0.3% to $5,068.83 an ounce, while spot silver eased 0.2% to $84.13 an ounce.

The dollar index, which tracks the US currency against six major peers, rose 0.1% to 96.96 as of 0907 GMT+3 (0607 GMT).

March silver futures dropped 0.6% to $83.49 an ounce. Spot platinum fell 0.35% to $2,129.53, while palladium was little changed at $1,721.24.

Investors are awaiting US weekly jobless claims data later on Thursday and inflation figures on Friday for further clues on the Federal Reserve’s policy path.