Gold prices rose on Thursday, for the second straight day, and steadied above the $1,800 barrier, after the latest developments in the US bond market, as the 10-year Treasury bonds fell 2-week low.

Gold prices rose 0.4% to $1,804.14 an ounce, after opening at $1,796.82, and hit a high of $1,794.10.

Gold closed higher by 0.2% yesterday, after profit-taking from a 6-week high at $1,813.94 resumed.

The 10-year US Treasury yield fell 0.5% today, deepening losses for the fifth straight day, near a 2-week low of 1.520%, which reduces the opportunity cost of holding non-yielding bullion.

This came after a drop in most global energy prices "oil, natural gas and coal", which lowers inflationary pressures on the US Federal Reserve monetary policy makers.

The World Gold Council said that demand for gold fell fell in the third quarter to its lowest since the last quarter of 2020.

Gold stocks at the SPDR ETF rose 3.2 metric tonnes, with the total at the highest level since October 8 at 983.01 mt.

Euro stabilized in European trade against a basket of currencies as investors shun new positions ahead of policy decisions by the European Central Bank.

EUR/USD last traded at 1.1600, after closing up 0.1% yesterday away from week lows at 1.1584.

The European Central Bank is convening today to decide on monetary policy amid rising inflation in the euro zone to 10-year highs, and strong growth in the second quarter of the year.

ECB President Christine Lagarde will be talking after the meeting at 12:30 GMT.

It's highly unlikely that the ECB will take any action, however it's expected to offer important clues on the future of bonds purchases and low interest rates.

The bank might take a more bullish stance on policies, which might bolster the euro against major rivals, however a bearish statement will weaken the common currency further.

Silver prices rose slightly on Wednesday, as the US dollar fell against most of its peers following the release of weak economic data.

Data showed that the US durable goods orders index fell 0.4% in September, better than forecasts of a drop by 1.1%, and the core reading rose 0.4% in September, on par with forecasts.

The US goods trade balance recorded a deficit of $96.3 billion last month, more than forecasts of $88.2 billion.

The dollar index fell against a basket of major currencies 0.2% to 93.7 points as of 20:12 GMT, after hitting a high of 94.01 points and a low of 93.7 points.

 Silver spot prices rose 0.2% to $24.1 an ounce as of 20:12 GMT.

Gold prices edged higher on Wednesday, as the US dollar fell against most of its peers following the release of weak economic data.

Alphabet, the parent company of the search engine Google and Microsoft reported yesterday strong profits and revenues in the third quarter, thanks to the cloud services and online advertising.

Data showed that the US durable goods orders index fell 0.4% in September, better than forecasts of a drop by 1.1%, and the core reading rose 0.4% in September, on par with forecasts.

The US goods trade balance recorded a deficit of $96.3 billion last month, more than forecasts of $88.2 billion.

The dollar index fell against a basket of major currencies 0.2% to 93.7 points as of 19:20 GMT, after hitting a high of 94.01 points and a low of 93.7 points.

Gold spot prices rose 0.1% to $1,795.7 an ounce as of 19:20 GMT.