• Gold prices inched down to the lowest level in five weeks on Thursday, pressured by an uptick in the dollar ahead of U.S. non-farm payrolls data on Friday.
Spot gold was barely changed at $1,207.38 per ounce at 0325 GMT after touching $1,205.50, the lowest since Feb.1, earlier in the session.
• "If the (nonfarm payroll) data does come in better than market expectations, it will drag gold prices further," said OCBC analyst Barnabas Gan.
"But with fund futures fully pricing in the rate hike story, I'd presume gold will just be supported at the $1,200 handle into next week, whereby the actual rate hikes will come in."
• Interest rates futures implied traders saw an 86 percent chance of a rate hike next week on Wednesday, compared with 82 percent at Tuesday's close, according to CME Group's FedWatch program.
The dollar index, which pits the greenback against six major currencies, rose 0.1 percent to 102.14.
• Meanwhile, the ADP National Employment Report released on Wednesday showed its biggest increase in more than a year in February, suggesting the U.S. economy remains on solid ground.
• Spot gold may bounce into a range of $1,213-$1,219 per ounce before falling again, as it seems to have lost its bearish momentum around a support at $1,206, according to Reuters technical analyst Wang Tao.
• In other precious metals, silver fell 0.4 percent, to $17.17 per ounce, close to the lowest since Jan.31 at $17.16 hit earlier in the session.
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