Gold prices nudged higher on Thursday, while traders await a key U.S. inflation data due later in the day to gauge the Federal Reserve's future monetary policy stance.
Spot gold rose 0.2% to $2,614.00 per ounce by 0246 GMT, after easing for the previous six sessions. Prices scaled a record high last month.
U.S. gold futures gained 0.2% at $2,631.40.
The U.S. Consumer Price Index for September is due at 1230 GMT and Producer Price Index data on Friday.
"If core CPI comes hotter, U.S. Treasury yields will go higher and that is bad for gold. I think there is room for prices to come down, but don't necessarily see a downtrend in the big picture," said Ilya Spivak, head of global macro, Tastylive.
Markets see an 80% chance of a 25-basis-point Fed rate cut in November.
Subscribe our newsletter to stay updated
Thank you for subscribing!
Subscribe our newsletter to stay updated
Thank you for subscribing!
