LONDON: Gold ticked higher on Thursday as some speculators bet that a slide from last month's peak had run its course as they waited for more clues on whether US interest rates would be raised.
Gold has rowed back about 6 percent since touching $1,357.54 an ounce in early September, the highest in more than a year.
"After we managed to find support at the key technical level of $1,268 this week, that attracted some renewed buyers into the market," said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen.
"Now the market is looking for data that can solidify the sentiment that the correction is over, but so far we haven't really seen that. The Fed speakers later today and the job report tomorrow may give indications of whether the Fed wants to act or not in December."
Several officials from the US Federal Reserve are due to speak later on Thursday. Markets are also awaiting US non-farm payrolls data on Friday, with investors expecting a slowdown in new jobs after disruption from two major hurricanes last month.
Spot gold was up 0.2 percent at $1,276.25 an ounce at 1235 GMT, while US gold futures for December delivery added 0.3 percent to $1,278.70.
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