Gold steadied near $1,130 an ounce on Thursday, recovering from an over three-week low, as a dip in the dollar prompted some buying, although the precious metal remained vulneraable to further profit-taking. A combination of central bank buying, inflation worries and a weaker dollar have encouraged investors to pile into gold, lifting the precious metal to a record high of $1,226.10 on December 3.
Bullion plunged the next day after better-than-expected US jobs data triggered a rally in the greenback. It fell to a trough of $1,116.80 on Wednesday, its lowest since November 13. Spot gold was at $1,128.90 an ounce as of 0628 GMT, little changed compared with New York's notional close of $1,128.80. The metal rose as high as $1,136.60 and fell to a low of $1,124.55, swung around by the dollar's moves.
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