Gold rises before the announcement of US economic data

Gold prices rose on Thursday with a decline in the dollar, while investors focused on US economic data for clues on the path the Federal Reserve (US central bank) will take regarding interest rates.

Gold in spot transactions increased 0.3 percent to $2,324.10 per ounce by 0752 GMT.

But US gold futures fell 0.1 percent to $2,337.20 an ounce.

The dollar index fell 0.2 percent against a basket of currencies, which increases the attractiveness of gold for buyers who hold other currencies.

The interest rate setting committee of the Federal Reserve (US Central) is scheduled to meet on April 30 and May 1. Before that, first-quarter GDP data is expected later on Thursday and the personal consumption expenditures price index for March is expected on Friday.

As for the prices of other precious metals, silver in spot transactions rose 0.9 percent to $27.40 per ounce, platinum in spot transactions increased 0.7 percent to $909.10, and palladium rose 0.3 percent to $1,004.