WASHINGTON (dpa-AFX) - Gold prices recovered some ground on Thursday, after having fallen for six straight sessions as stronger-than-expected U.S. jobs data poured cold water on expectations for an aggressive rate cut by the Federal Reserve.
Spot gold rose 0.4 percent to $2,617.47 per ounce despite firmer Treasury yields and U.S. dollar. U.S. gold futures were up 0.3 percent at $2,634.40.
The dollar sat near a two-month high after minutes from the Fed's September meeting showed Fed officials are in no rush for another half-point cut in interest rates.
The focus now turns to the highly anticipated U.S. consumer price inflation data for September later in the day that might show core inflation holding steady at a 3.2 percent year-on-year basis.
The report on U.S. producer price inflation is due on Friday.
Sn Francisco Fed President Mary Daly on Wednesday said she 'fully' supported last month's half-of-a-percentage-point interest-rate cut and that one or two more cuts are likely this year if the economy evolves as expected.
On the geopolitical front, media reports suggest that U.S. President Biden and Israeli Prime Minister Benjamin Netanyahu discussed Israel's expected military retaliation against Iran in their first call in over a month Wednesday.
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