WASHINGTON (dpa-AFX) - Gold prices were mixed on Thursday, after having climbed sharply to near two-week high the previous day on the back of tepid U.S. economic data and the release of the minutes from the Federal Reserve's most recent monetary policy meeting.
Spot gold was marginally higher at $2,357.03 per ounce while U.S. gold futures were down 0.2 percent at $2,365.55. Activity was thinned by the U.S. Independence Day holiday.
The dollar dipped as weak U.S. economic data released on Wednesday cemented hopes for an interest-rate cut in September.
Data showed initial jobless claims rose last week, the U.S. services sector contracted in June at the fastest pace in four years and private-sector job creation slowed for a third straight month, with pay gains for both job stayers and job changers slowing.
Meanwhile, Federal Reserve officials at their last meeting indicated that inflation is moving in the right direction but not quickly enough to decide on interest-rate cuts, according to minutes of the June 11-12 policy meeting released Wednesday.
All eyes now remain on Friday's closely watched monthly U.S. jobs report, which may shed light on how much the economy has slowed in 2024.
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