Gold prices edge higher as dollar weakens, US rate hike bets ease

Gold prices posted modest gains at the start of Asian trading on Thursday, buoyed by a weaker dollar and the latest economic data, which eased expectations of a US interest rate hike next month.

Spot gold rose 0.3% to $4,388.62 per ounce by 00:28 GMT. US gold futures also climbed 0.2% to $4,444.30 per ounce.

Performance of other precious metals

Elsewhere, spot silver gained 0.8% to $65.19 per ounce. Platinum rose 0.4% to $1,755.40, while palladium advanced 1.2% to $1,329 per ounce.