Gold dropped to its weakest level in almost a month on Thursday, hurt by a firmer dollar and as holdings in exchange-traded funds fell to the lowest in over four years, potentially stretching bullion's losing streak to a sixth day. Spot gold fell to as low as $1,374.99 an ounce, its cheapest since April 18. By 0748 GMT, it was down 1 percent at $1,378.36.
Gold is less than $60 away from two-year lows hit in mid-April. Prices have fallen nearly 18 percent this year and are well below a record top near $1,920 struck in September 2011. Gold bars in Hong Kong fetched premiums of up to $5 an ounce over spot London prices, up from $3 an ounce last week. US gold for June delivery stood at $1,377.20 an ounce, down 1.4 percent.