Doha: Gold edged up on Thursday, as softer-than-expected US producer price index (PPI) data reinforced already strong expectations for a Federal Reserve interest rate cut next week, while investors awaited key consumer inflation data for further cues. Spot gold was up 0.1% at $3,645.04 per ounce. Bullion hit a record high of $3,673.95 on Tuesday. US gold futures for December delivery rose 0.1% to $3,682.90.

According to Qatar News Agency, elsewhere in the precious metals market, spot silver held steady at $41.13 per ounce. Platinum saw a gain of 0.5%, reaching $1,392.55, while palladium increased by 0.7% to $1,181.56. The market movements come as investors closely monitor economic indicators and central bank policies for further direction.