Gold prices fell on Thursday, to deepen losses for the second straight day near a 6-week low, due to the US dollar's strong performance and ahead of Joe Biden's reveal of a huge stimulus plan.

Gold prices fell 0.9% to $1,829.04 an ounce, after opening at $1,845.47 and hitting a low of $1,852.20.

The yellow metal fell 0.5% yesterday, and posted its first daily gain in 5 days, and its resume losses after taking a breather in recovery attempts from a 6-week low of $1,817.31.

The US dollar index rose over 0.1% against a basket of major currencies today, near its 3-week high of 90.73 points, which weighs down on the prices of gold and other dollar-denominated metals.

The dollar's uptrend comes as the 10-year treasury yields continued to rally ahead of the US President-elect Joe Biden reveals his huge stimulus plan.

Biden will reveal later today trillions of dollars of Covid relief during the first year of his term, with some estimates putting it at $2 trillion. 

Gold stocks at the SPDR ETF fell 10.5 metric tonnes yesterday, with the total at the lowest level since November 24 at 1,171.21 metric tonnes.

European stocks rose on Thursday, extending gains for the second straight session, rising near 11-month highs amid improved market sentiment after the release of strong data in China and ahead of Joe Biden's reveal of a huge stimulus plan.

The Stoxx Europe 600 index rose 0.3% as of 11:15 GMT, after it closed higher by 0.1% yesterday after profit-taking stopped from an 11-month high of 411.92 points.

The pan European index opened higher today, extending gains for the second straight session, with most of the major European markets and sectors seeing green.

The automotive sector saw the largest gains in Europe today, rising more than 2%, on hopes of economic recovery in China.

China's General Customs Administration showed on Thursday that exports jumped 18.1% in December, beating forecasts of 15%.

Investors are parsing the recent developments regarding the coronavirus crisis in the region, with some European governments plans to speed up their vaccination campaigns.

US President-elect "Joe Biden" unveils later today a plan of "trillions" of dollars for relief from the Corona virus, and "CNN" News reported that the new package will be about 2 trillion US dollars.

S&P 500 futures rose 0.2%, after the index closed higher by 0.2% yesterday at Wall Street, as profit-taking stopped from its record high of 3,826.69 points.

Back to Europe, the Euro Stoxx 50 index rose 0.4%, France's CAC 40 rose 0.2%, the UK's FTSE 100 added 0.7%, and Germany DAX index rose 0.3%.

The US dollar rose against a basket of major currencies on Thursday, extending its gains for the second consecutive day near a 3-week high, lifted by the high yield of 10-year US Treasury bonds, ahead of the US President-elect Joe Biden reveals his huge stimulus plan.

The dollar index rose more than 0.2% to 90.48 points, after opening at 90.27 points, with an intraday low of 90.23 points.

The greenback gained 0.3% yesterday, to resume its gains after pausing yesterday due to profit-taking from 3-week high of 90.73 points.

The dollar's uptrend comes as the 10-year treasury yields jumped 2.5% ahead of the US President-elect Joe Biden reveals his huge stimulus plan.

Biden will reveal later today trillions of dollars of Covid relief during the first year of his term, with some estimates putting it at $2 trillion. 

At 13:30 GMT, the US unemployment claims for the week ending January 9 are expected to reach 0.785 million from 0.787 million the previous week.

Euro fell on Thursday for another session against dollar to three-week lows as US President Elect Joe Biden prepares to unveil his stimulus plans later today. 

EUR/USD fell 0.2% to 1.2135, after closing down 0.4% yesterday to near three-week lows at 1.2132. 

The dollar index rose 0.1% on Thursday for another session to near three-week highs at 90.73 as the greenback strengthens against major and minor rivals. 

US 10-year treasury yields continue to surge ahead of Joe Biden's stimulus plans, in turn boosting the dollar. 

Biden is expected to launch trillions of dollars of Covid relief during the first year of his term, with some estimates putting it at $2 trillion.