London — Gold edged lower on Thursday as investors shifted their focus to US jobs data due at the end of the week for guidance on monetary policy for the rest of the year. Spot gold was down 0.3% at $1,340.20 an ounce, as of 1.02pm GMT. It touched $1,332.30 an ounce in the previous session, its lowest since January 23. US gold futures for February delivery were nearly flat at $1,342.70 an ounce. The US Fed held interest rates unchanged on Wednesday but raised its inflation outlook and flagged "further gradual" rate increases. "There is a possibility the dollar could rise again and if we have stronger-than-expected jobs data [on Friday] then that would be bad news for gold," said Forex.com analyst Fawad Razaqzada. Gold gained just 3.2% in January as the dollar fell to three-year lows against a basket of major currencies. It hit a 17-month peak of $1,366.07 on January 25. "We remain somewhat friendly to gold in the short term. The dollar seems to be adrift, as investors are unsure wha...
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