RTRS: PRECIOUS-Gold eases as stocks firm; traders eye G20, ECB
Gold dipped on Thursday as a recovery in equities diverted interest from the precious metal, with traders awaiting fresh direction from the G20 leaders' summit in London.
The European Central Bank's interest rates decision later in the session is also likely to impact prices, traders said.
Spot gold slid to $918.80/920.80 an ounce at 0906 GMT from $926.40 late in New York on Wednesday.
World leaders are set to declare an end to unfettered capitalism at the G20 summit, according to the terms of a draft communique seen by Reuters. [ID:nL1230573]
"The crucial question will be whether markets are satisfied with what the leaders of the G20 decide on stimulating the economy," said Peter Fertig, a consultant at Quantitative Commodity Research in Germany.
"The impact on the U.S. dollar will be the most crucial question having an impact on gold. The link between gold and the dollar has got closer again in the last couple of weeks."
