WASHINGTON (dpa-AFX) - Gold prices drifted lower on Thursday after climbing to a near 3-month high on Wednesday on safe-haven buying due to uncertainty surrounding U.S. President Donald Trump's trade policies and tariff threats.
Spot gold dipped 0.1 percent to $2,752.85 per ounce in European trade, while U.S. gold futures were down 0.4 percent at $2,759.44.
The dollar recovered from early weakness as investors looked ahead to Trump's keynote address at the World Economic Forum in Davos, Switzerland, for further direction.
The newly inaugurated president is due to address WEF via video link at 5 p.m. Davos time.
In economic releases, U.S. reports on initial jobless claims and Kansas City Fed manufacturing may garner some attention in the New York session.
The euro was down marginally at $1.04 level after multiple ECB policymakers backed further rate cuts in comments on Wednesday.
A reduction in interest rates next week by the European Central Bank is all but certain and further moves lower are likely to come even if the U.S. Federal Reserve takes a more deliberate approach.
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