Gold prices up ahead of US inflation report

Gold prices edged up to levels near the pivot price in early trading on Thursday, while traders await a key US inflation data due later in the day to gauge the Federal Reserve’s future monetary policy stance.

Spot gold prices gained at 6:29 GMT by 0.33 per cent to $2,616.31 per ounce, compared to yesterday’s closing price of $2,607.82. While, US gold futures rose 0.28 per cent to $2,633.25, compared to Wednesday’s closing of $2,626.0.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama