LONDON: Gold edged higher on Thursday as a slump in prices to four-year lows tempted some buyers back to the market, but moves were muted ahead of key US non-farm payrolls data due at the end of the week.

Fresh strength in the dollar — a rally in which knocked prices to their weakest since early 2010 on Tuesday — following comment from the European Central Bank pulled the metal back from earlier highs at $1,149, but it remained supported.

Spot gold was up 0.4 per cent at $1,145.90 an ounce at 1500 GMT, while US gold futures for December delivery were down 30 cents an ounce at $1,145.40.

Technical analysts have said a test of the $1,000 level could be on the cards after a break of support at $1,155, a retracement level of its rally to record highs in 2011.

Published in Dawn, November 7th, 2014