Gold prices near $1,200

Singapore
Gold took a breather on Wednesday after a two-day losing streak but was hovering near its lowest in a week as the dollar held close to 11-year highs, with investors awaiting US economic data and a European Central Bank meeting.
Spot gold was little changed at $1,204.55 an ounce by 0035 GMT. In the previous session, the metal fell to a one-week low of $1,194.90, before paring some losses to close above $1,200.
The dollar was just below an 11-year high versus a basket of major currencies on Wednesday, boosted by expectations of an increase in US interest rates soon.
The dollar could take its cues from the US ISM services report due later in the day, which comes ahead of the closely watched US jobs data due on Friday. A robust economy could prompt the Federal Reserve to soon hike rates, a move that could hurt non-interest-bearing bullion.