KONTAN.CO.ID - NEW YORK. Gold prices eased on Thursday as the U.S. dollar and Treasury yields strengthened a day after dismal U.S. private payrolls data sent bullion prices to one-week highs.

Spot gold was down 0.3% at $1,801.30 an ounce, as of 1300 GMT, after hitting its highest since Jan. 27 at $1,810.86 in the previous session. U.S. gold futures fell 0.4% to $1,802.30.

Benchmark U.S. 10-year Treasury yields were slightly up, while the dollar index firmed against its rivals, making bullion expensive for buyers holding other currencies.

Investors now await Friday's closely watched non-farm payroll figures after ADP data on Wednesday showed U.S. private payrolls unexpectedly fell last month.

"Tomorrow's payroll data would be important to get the confirmation on a weakening labour market, which is a key factor for the Fed to go slow on its rate hike plans," said Soni Kumari, a commodities strategist at ANZ.

"We see inflation numbers and geopolitical tension guiding gold prices in the near-term."

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U.S. Federal Reserve officials have signalled they will start raising interest rates next month to fight high inflation.

The European Central Bank kept policy unchanged on Thursday, curbing stimulus over the coming months but maintaining plenty of support for the economy, while the Bank of England raised interest rates to 0.5%.

Gold is considered a hedge against inflation, but interest rate rises would make non-yielding bullion less attractive.

"The magnetic attraction to the $1,800 level has persisted for almost a year now, and gold's struggling to break out of its range," independent analyst Ross Norman said.

Gold seems to be well supported by good physical buying but is unable to sustain upside momentum, Norman added.

In other metals, silver declined 1.2% to $22.36 an ounce, platinum fell 0.9% to $1,022.95 and palladium was little changed at $2,368.83.

Editor: Herlina Kartika Dewi