Gold dipped for a second session on Thursday, holding below $1,200 an ounce, as outflows resumed from the top bullion exchange-traded fund and traders remained cautious before an upcoming Swiss referendum on central bank bullion assets.
A weaker dollar after lackluster U.S. data, however, checked losses in gold which is seen as a safe-haven asset.
"Gold is stuck on either side of $1,200 with a break of $1,190 or $1,205 needed for the next leg in either direction," said Jason Cerisola, metals dealer at MKS Group.
"(Precious) metals are likely to remain quiet ahead of the U.S. holiday and the Swiss referendum on the weekend," he said.
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