Gold slipped on Thursday after the euro lost ground against the dollar and as investors awaited the outcome of Britain’s national election and testimony from former U.S. FBI director James Comey.
The euro declined after the European Central Bank cut its forecasts for inflation and said that policymakers had not discussed scaling back its massive bond-buying programme.
…”It’s quite natural that we see markets taper off some of the recent gains,” he said. “The sentiment on the market at the moment is that gold is a ‘buy on dips’. The question is whether we’ll see a dip of any size once there’s more clarity following today’s events.”