Gold is moving in a narrow range ahead of US economic data

Gold prices moved in a narrow range on Thursday as cautious investors awaited US economic data due later in the day, which could affect the pace of the Federal Reserve raising interest rates.

And gold recorded in instant transactions $ 1814.03 an ounce by 1118 GMT. And US gold futures fell only 0.1 percent, to $ 1823.50.

Gold has risen around $200 since the metal fell to a more than two-year low in late September, as expectations of a slowdown in interest rate hikes made the dollar less attractive.

US third quarter GDP and weekly jobless claims figures are due at 1330 GMT. Traders will also look at the PCE data due on Friday, looking for signs of inflation.

The yellow metal is considered a hedge against inflation, but the rise in interest rates affected its attractiveness because it does not generate a return.

The US currency index fell, making gold cheaper for holders of other currencies.

As for other precious metals, silver fell in spot transactions 1.3 percent to $ 23.66, and platinum increased 0.2 percent to $ 999.88, while palladium jumped 1.5 percent to $ 1717.