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Gold Lower As ECB Warns On Trade War

Gold futures were lower Thursday morning, trimming recent gains as U.S. stocks were poised for another decent performance.

Still, gold's safe haven appeal has put a floor under gold prices amid geopolitical tensions and a possible trade war between the U.S. and China.

This morning the European Central Bank warned of the risks to the eurozone economy posed by high tariffs.

"There was widespread concern that the risk of trade conflicts, which could be expected to have an adverse impact on activity for all countries involved, had increased," the ECB said. "It was also cautioned that negative confidence effects could arise."

Gold was down $14 at $1345 an ounce.

In U.S. economic news, jobless claims dropped 9,000 to 233,000, staying near a 45-year low.

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