Gold edges lower as dollar rebounds

Gold prices slipped on Thursday, as the US dollar rose against most major currencies, after the release of upbeat economic data.

The US Department of Labor revealed that the number of initial unemployment claims fell to the lowest level since the beginning of the coronavirus pandemic at 290K last week from 298K, and lower than forecasts of 296K.

Many major companies reported their quarterly business results for the third quarter, led by Tesla and IBM's reports.

The dollar index rose against a basket of major currencies by 0.2% to 93.7 points as of 19:11 GMT, after hitting a high of 93.7 points and a low of 93.5 points.

Gold spot futures fell 0.1% to $1,782.8 an ounce as of 19:12 GMT, after hitting a day high of $1,790.3 and a low of $1,776.8.