Gold Slips Below $1300 Before ECB

Gold eased on Thursday, moving further away from a five-month high above $1,300 an ounce reached in the previous session, hurt by profit-taking ahead of a key European Central Bank meeting.

Spot gold fell 0.2 percent to $1,291 an ounce by 0027 GMT. The metal reached $1,305, its highest since August, on Wednesday.  After a quick climb of about 9 percent this month, traders are adjusting positions ahead of the ECB policy meet.

The metal has rallied on safe-haven bids from political and economic uncertainties in Europe, along with concerns over the health of the global economy.


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