Gold climbs to 2-week high ahead of US inflation data

NEW YORK/LONDON: Gold prices edged higher to a more than two-week high on Thursday as focus shifted to U.S inflation figures due on Friday which are expected to give more clues on monetary policy.

Minutes from a US Federal Reserve September meeting showed policymakers had a prolonged debate about prospects of a pick-up in inflation and slowing the path of future interest rate rises if it did not.

The dollar inched up after US data showed new applications for US unemployment benefits last week fell to a more than one-month low after being boosted by two hurricanes.

But the greenback still languished near two-week lows against a basket of currencies, weighed down by the US Fed minutes which the market interpreted as dovish.