gold futures

Gold moved higher during Thursday trades further accumulating its gains boosted by inflation concerns which prompt central banks to raise their interest rates.

China hiked rates by 25 basis points on Wednesday, and the European Central Bank is expected to follow suit later on Thursday.

"The rate move reignited the inflation issue and people started to think that it is more of an issue than expected," said Jonathan Barratt, managing director at Commodity Broking Services in Sydney.

Gold prices recovered from biggest one-day loss in a month in the previous session on concerns over another global economic slowdown, but declining US dollar along with bargain hunting by jewelers provided some support.

While industrial metals priced in expectations of a cooling Chinese economy, dealers see no change in China's appetite for bullion. Investors were awaiting a trail of U.S. data later in the day which could set the tone for commodities.

Gold and silver took a steady pace on Thursday as a weaker dollar and growing oil prices further drove investors’ sentiment.

The dollar dropped as much as 0.4 percent against a basket of currencies, boosting buying interest in dollar-denominated commodities, while higher oil prices stoked inflation worries, increasing gold's appeal as a safe-haven investment.

Spot gold was little changed at $1,494.86 an ounce by 0617 GMT, below the 30-day average at $1,499.67. U.S. gold GCcv1 was nearly flat at $1,494.70.

Gold prices declined Monday on stronger dollar as fears about the euro zone debt crisis deepened ahead of the bloc's finance ministers' meeting, which has been overshadowed by the arrest of the International Monetary Fund chief.

The euro slid to a six-week low against the dollar after Dominique Strauss-Kahn was charged with sexual assault, increasing uncertainty on aid for Greece and other indebted euro zone countries. The dollar index , a measure of the greenback's strength against a basket of currencies, advanced to its highest since early April.

Wednesday COMEX silver declined for a third consecutive session and gold depreciated as precious metals were pressed to even after a strong rally in the last few weeks.

However, the overall trend in gold and silver remain bullish, as concerns on rising global inflation, unrest in the Middle East and North Africa, and low U.S. interest rates drive investors to park their value in precious metals.

Gold hit record highs in 11 out of past 14 sessions and spot silver has surged more than 20 percent since mid-April to a 31-year high just below $50 on April 28.

Bullion surged to record highs Thursday as the dollar's three-year low against a basket of major currencies attracted non-U.S. investors, after the United States signaled it would retain accommodative monetary policy.

Spot gold XAU= ascended to a lifetime high of $1,535.90 an ounce, breaking records for a second straight session. It traded at $1,534.85 an ounce at 1413, up from $1,526.40 late in New York on Wednesday.

At the precious metal markets silver regained its losses from the previous sessions and gold also moved higher supported by a dollar near 2-1/2-year lows as investors await the outcome of a two-day meeting of the U.S. Federal Reserve for clues to monetary policy.

Spot gold gained 0.5 percent to $1,508.96 an ounce by 0033 GMT.

U.S. gold futures GCv1 edged up 0.4 percent to $1,510.

Spot silver rebounded 1 percent to $45.96, after posting a 3 percent decline on Tuesday, its largest daily loss in six weeks.

Gold prices remained at near record highs on Monday on concerns over the outlook for the euro and as a fresh hike in China's reserve requirements highlighted concerns over inflation.

The dollar's rise versus the euro limited gains, however.

Spot gold rose as high as $1,488.50 and was bid at $1,484.20 an ounce at 0932 GMT, against $1,483.75 late in New York on Friday. U.S. gold futures for June delivery eased $1.10 an ounce to $1,484.90, off a record $1,489.70.

Gold surged to a record high on Friday after the US dollar declined to the lowest since 2009 against a basket of currencies.

Unofficial figures on Thursday suggested Chinese data, including retail sales, industrial output and consumer inflation due at 0200 GMT, will probably be higher than expected.

Spot gold rose $3.81 an ounce to $1,476.71 ounce by 0113 GMT, having hit a record high of $1,479.01 an ounce.

Gold regained some losses on Wednesday after its biggest decline in a month in the previous session, shrugging off falls in exchange traded fund holdings and gaining support on inflation concerns in major gold buyer China.

Silver was within sight of its highest level in more than three decades as steady physical demand from India helped it regain $40 an ounce. The gold-to-silver ratio was at a 28-year low.

Spot gold added $2.81 to $1,456.76 an ounce by 0558 GMT after falling as low as $1,443.49 an ounce on Tuesday, tracking declines in oil prices.

Gold dropped for a second day pressed by a steadier dollar after having hit record highs on Monday, while a warning from Japan about the severity of its nuclear crisis fed modest safe-haven demand.

Goldman Sachs' decision on Monday to book profits on its positions in crude oil, copper, platinum and some agricultural commodities weighed on the raw materials sector, including gold.

Gold prices jumped up on Monday to their record high as expectations of more declines in the U.S. dollar drove investors into the precious metal, with record exchange traded fund holdings helping silver to its highest in more than three decades.

Heightened inflationary threats despite interest hikes by China and the European Central Bank boosted gold's safe haven appeal, while silver also attracted buying from investors looking for a cheaper alternative to bullion. The gold-to-silver ratio was at a 28-year low around 35.

Gold prices declined Friday before the release of U.S. non-farm payrolls report which could underpin the dollar and weigh on bullion, while ETF holdings posted their biggest quarterly decline ever.

Investors were cautious ahead of the data due at 1230 GMT, which should provide more clues on the health of the world's largest economy. Signs of improving business activity and rising inflation globally have led a number of central banks either to tighten policies or talk tough on inflation.

Gold prices moved up on Thursday being on track for the 10th consecutive quarterly rise since 2008 as an early drop spurred cautious bargain hunting ahead of U.S. February employment data at the end of the week.

U.S. private employers added more than 200,000 jobs in March, underscoring expectations that momentum in the labour market will help underpin the economic recovery as investors turned their attention to the non-farm payrolls data due at 1230 GMT on Friday.

Gold held on a steady level on firmer equities and the situation in Libya, while worries that some central banks will have to soon start tightening monetary policy may have some impact on the bullion.

In recent days, several top U.S. central bank officials have said further bond purchases by the Federal Reserve were not needed to support the economy, while European Central Bank President Jean-Claude Trichet noted his inflation concerns from rising food and energy prices.