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Gold prices were trading in a tight range on Thursday as traders remained on the sidelines ahead of a key U.S. economic data that may provide clues about the size of the Federal Reserve's interest rate cuts expected later this year.

Gold prices were trading in a tight range on Thursday as traders remained on the sidelines ahead of a key U.S. economic data that may provide clues about the size of the Federal Reserve's interest rate cuts expected later this year.

Spot gold was flat at $2,655.03 per ounce by 0333 GMT. Prices hit a record high of $2,685.42 on Sept. 26.

U.S. gold futures gained 0.2% to $2,675.40.

Gold is consolidating at this point of time but expect prices will retest the all-time high of $2,685 as charts show persistent strong upward trends, said Brian Lan at Singapore-based dealer GoldSilver Central.

Investors are watching out for the ISM services data and the initial jobless claims, due later in the day, along with the U.S. non-farm payroll data expected on Friday.

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