Gold rose for a second day on Thursday as the US dollar fell to a 16-month low against a basket of currencies on expectations the Federal Reserve will lag global central banks in raising interest rates. Bullion held within $20 of the record high of $1,476.21 an ounce struck at the start of the week, with declines in exchange traded fund holdings suggesting investors are keen to book profits.
Spot gold rose $8.69 to $1,463.30 an ounce by 0632 GMT as technical buying accelerated after prices breached Wednesday's intraday high.