LONDON: Gold resumed its downward slide from a five-month high in mid-April, giving up gains that came after US President Donald Trump announced unfunded tax cuts, causing shares and US bond yields to fall.
Spot gold was down 0.4 per cent at $1,263.57 an ounce at 1445 GMT on Thursday, with US gold futures up 0.1pc at $1,265.10 an ounce.
Gold has fallen 1.6pc this week as it slips from a April 17 high of $1,295.42.
In other precious metals, silver was down 1.3pc at $17.24, its lowest since March 17.
Platinum was down 0.4pc at $942.90 an ounce and palladium was flat at $808.25.