Gold closes lower, snaps 4-day rally

Gold prices fell on Thursday, and snapped a 4-day rally, as the US dollar steadied against most major currencies and stock rallied.

The initial unemployment claims in the US fell to 793,000 last week, worse than forecasts of 755,000.

The Federal Reserve Chairman Jerome Powell pledged to hold the US monetary policy unchanged until the economy fully recovers.

Investors are still anticipating the US Congress to pass the $1.9 trillion Covid relief plan proposed by President Joe Biden.

The dollar index rose against a basket of currencies less than 0.1% to 90.4 points as of 19:18 GMT, after it hit a high of 90.4 points and a low of 90.2 points.

Gold April futures fell 0.9% or $15.9, and closed at $1,826.8, with today's high at $1,846.6 and the low at $1,823.2.