Gold returns lower after failed attempt to recover

Gold prices fell on Thursday after failing to recover, as the dollar advances against a basket of currencies, while demand rises on stocks away from the safe haven. 

The dollar managed to rise today and hold the gains despite weak earlier U.S. data, after the euro tumbled following the European Central Bank's meeting. 

The tax reform plan announced by U.S. treasury secretary yesterday failed to buoy the markers in a sustainable way due to its lack of details, but stock indices held steady nonetheless, hurting demand on safe havens.   

At the same time, the Congress started the process of extending the final deadline for budget to May 5 instead of tomorrow, to give space to putting the final touches on a new government spending plan and avoid shutting the government. 

Gold last traded at $1,264.0 an ounce, down from the opening of $1,267.10, with a session-high at $1,269.50, and a low at $1,261.04.