FX.co ★ Gold Gains On Dovish Fed Bets

Gold prices traded higher on Thursday as global equity markets steadied after recent strong gains on dovish Fed bets.

Spot gold rose 0.4 percent to $1,966.25 per ounce, while U.S. gold futures were up 0.2 percent at $1,968.60.

U.S. Treasury yields ticked higher, and the dollar rebounded from a two-month low, capping the upside for bullion.

As headline inflation slows, investors now await more clues on the health of the world's largest economy, going into the holiday season.

U.S. retail sales ticked down in October, but upward revision to September data suggested that consumer resilience is still intact.

Looking ahead, U.S. weekly jobless claims, export and import prices data for October, industrial and manufacturing productions data for October and NAHB housing market index for November are due to be released in the New York session.

Earlier today, data showed China home prices fell the most in eight years in October due to weak demand.

Japan's export growth slowed in October and China's new home prices fell for the fourth straight month, rekindling worries about slowing global growth.