2018.04.2602:40:00UTC+00Gold Prices Near 5-Week Low as Dollar, Bond Yields Firm

Gold prices were little changed on Thursday after dropping to their lowest in five weeks in the previous session, weighed down by a stronger dollar and a rise in U.S. Treasury yields.

Spot gold edged up 0.05 percent to $1,323.66 an ounce, after dropping as much as 0.9 percent to $1,318.51 in the previous session, its weakest since March 21.

U.S. gold futures added 0.1 percent at $1,324.7 an ounce.

Markets are now awaiting the European Central Bank's monetary policy decision due later in the day.

The ECB is set to keep policy unchanged on Thursday, playing down worries over recent softness in the eurozone economy and potentially ending its bond purchase scheme by the close of the year.

In other precious metals, silver climbed 0.4 percent to $16.59 per ounce after losing more than one percent in the previous session.

Platinum rose 0.6 percent to $911.10 per ounce. The metal lost around 2.2 percent on Wednesday. Palladium shed 0.4 percent to $973.50 an ounce.