Gold prices held steady early on Thursday as the dollar firmed after upbeat U.S. economic data bolstered the prospects of interest rate increases next month and beyond.
Fundamentals
Spot gold was nearly unchanged at $1,278.06 per ounce at 1255 GMT. On Wednesday, gold touched a session high of $1,289.09, a peak since Oct. 20, before paring gains and ending the session about 0.2 percent lower due to a stronger dollar.
U.S. gold futures for December delivery were flat at $1,277.80.
The dollar index , which tracks the U.S. currency against a basket of six major rivals, edged up 0.1 percent.
Underlying U.S. consumer prices increased in October on the back of a pickup in rents and healthcare costs, bolstering the view that a recent dis-inflationary trend worrying the Federal Reserve probably had ended.
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