Gold prices recorded slight gains in early trading on Thursday, supported by a weaker dollar and rising tensions in the Middle East, while investors await more US economic data that may provide clues on the Federal Reserve's next steps on interest rates.
Price change
Spot gold was up 0.1 percent at $2,026.7 an ounce by 0328 GMT, after hitting its highest since Feb. 9 on Wednesday. U.S. gold futures were up 0.1 percent at $2,036.9 an ounce.
The dollar index extended losses for the fourth day in a row, increasing the appeal of the US-denominated yellow metal to buyers abroad.
Escalating tensions in the Middle East have helped support gold prices, as the precious metal is seen as a safe haven in times of instability.
Israel intensified its bombardment of the southern Gaza Strip city of Rafah, killing more than a dozen members of one family in an air strike, as the health ministry in the devastated Palestinian enclave announced the death of 29,313 people in the war so far.
Investors are awaiting more U.S. economic data, such as the January retail sales report, which could provide clues on the path of U.S. interest rates.
Among other precious metals, platinum rose 0.3 percent in spot transactions to $885.30 per ounce, palladium rose 0.6 percent to $955.63, while silver rose 0.1 percent to $22.89 per ounce.
