Gold falls from near three-month high

WASHINGTON (dpa-AFX) – Gold prices fell on Thursday after hitting a nearly three-month high on Wednesday on safe-haven buying due to uncertainty over the president’s trade policy and tariff threats American Donald Trump.

Spot gold fell 0.1 percent to $2,752.85 an ounce in European trading, while U.S. gold futures fell 0.4 percent to 2,759. 44 dollars.

The dollar recovered from its initial weakness as investors eagerly awaited Trump’s keynote speech at the World Economic Forum in Davos, Switzerland, to see what happens next.

The new president is scheduled to address the WEF via video link at 5 p.m. Davos time.

In economic publications, US reports on initial jobless claims and the manufacturing sector from the Kansas City Fed could attract attention during the New York session.

The euro fell slightly to the $1.04 level after several ECB policymakers backed further rate cuts in their comments on Wednesday.

An interest rate cut next week by the European Central Bank is almost certain and further cuts are likely even if the US Federal Reserve takes a more deliberate approach.