London — Gold edged higher on Thursday after hitting its lowest in nearly a week as the dollar pared gains, but analysts said bullion was vulnerable to more losses. Spot gold was up 0.2% at $1,330.01 per ounce by 11am GMT. Earlier in the session, it touched its lowest since January 12 at $1,323.70. US gold futures for February delivery slipped 0.7% to $1,330.20 an ounce. In the previous session, spot gold fell 0.8%, posting its worst one-day percentage decline since December 7 as the dollar bounced from three-year lows. "Gold continues to trade in lock-step with the US dollar," said Carsten Menke, analyst at Julius Baer in Zurich. "We think the dollar has fallen too much. We see more upside for the dollar heading into the second quarter so that means gold should move back below $1,300 and towards $1,250 by mid-year." The dollar index gained as a rise in US treasury yields prompted some investors to buy the greenback, but it drifted back from its highs. The dollar got a boost after d...
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