Gold, silver futures decline

February gold futures slipped 0.75% to $4,429.1 an ounce

Gold futures fell as investors awaited key US economic data for clearer signals on the outlook for monetary policy this year.

During Thursday’s trading, February gold futures slipped 0.75%, or $33.6, to $4,429.1 an ounce.

Spot gold fell 0.7% to $4,425.10 an ounce, while spot silver dropped about 3% to $75.8 an ounce.

The dollar index, which measures the US currency against a basket of six major currencies, was little changed at 98.7 at 9:14 a.m. Mecca time.

March silver futures declined 2.95% to $75.37 an ounce. Spot platinum slid more than 4% to $2,207.54 an ounce, while palladium fell 2.85% to $1,712.9.

Markets are awaiting the release of the US monthly jobs report on Friday, as well as the preliminary January reading of the University of Michigan’s consumer sentiment index and short- and long-term inflation expectations.