Gold fell on Thursday as the euro dropped against the dollar after the European Central Bank kept interest rates on hold and pledged to use unconventional measures to combat low inflation. Spot gold fell 0.5 percent to $1,282.70 an ounce by 2:06 pm EDT (1806 GMT), near a seven-week low of $1,277.29 on Tuesday.
US COMEX gold futures for April delivery settled down $6.20 at $1,284.60 an ounce. Among other precious metals, silver fell 0.8 percent to $19.78 an ounce. Platinum climbed 0.4 percent to $1,438 an ounce and palladium gained 0.4 percent to $785.25 an ounce.