Gold inched up on Thursday, but the yellow metal held near a six-week low hit in the previous session as the dollar remained firm on expectations that the U.S. Federal Reserve may raise interest rates as early as June. Spot gold rose 0.2 percent to $1,240.51 per ounce by 0245 GMT. It fell 1.5 percent in the previous session - its worst single-day drop since Nov. 23 - breaching both its 50-day and 200-day moving averages. Prices hit a low of $1,236.01 on Wednesday, a level not seen since March 21. U.S. gold futures dropped 0.6 percent to $1,241.20 an ounce. The dollar index, which measures the ripples against a basket of currencies, was up 0.1 percent on Thursday after rising 0.2 percent on Wednesday.

Get Commodity Market Trading Tips for click here http://www.ripplesadvisory.com/services.php.