Spot gold ticked up 0.2 percent to $1,143 an ounce. It tumbled over 2 percent to a 4-1/2 year low of $1,137.40 on Wednesday, following sharp losses after falling through support at $1,160 and $1,150. U.S. gold futures for December delivery were down by nearly $4 an ounce to $1,142.
Silver prices were also battered, tumbling more than 4 percent on Wednesday, their biggest one-day retreat in more than a year, at one point hitting a 4-1/2 year low of $15.13. It was down 0.3 percent at $15.29 an ounce.
``We have the ECB today, and tomorrow the payrolls data in United States, so this stabilization is to be expected after big move we've seen,'' ABN Amro analyst Georgette Boele said.
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``However, we think this is just a pause and we will see more ahead, mainly because of the dollar but also because of that interest rates will start to move up.''
Gold tends to benefit from the kind of ultra-low interest in place since the start of the 2008 financial crisis they cut the opportunity cost of holding the-yielding asset.
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The dollar steadied on Thursday after hitting a seven-year versus the yen. The dollar index pared earlier losses and was last up 0.6 percent.