- Gold prices moved slightly in Asian trading on Thursday amid ongoing pressure from a rising dollar, with attention turning to upcoming inflation data for more signals on interest rates.

- Gold prices faced pressure due to the strength of the dollar, as traders priced in a slower pace of interest rate cuts by the Federal Reserve, which pushed gold away from its record highs from last week.

- The spot price of gold rose by 0.2% to $2,613.15 an ounce, while December gold futures increased by 0.2% to $2,630.20 an ounce.

- The focus is directly on the consumer price index inflation data set to be released later on Thursday, which is likely to reflect the Federal Reserve's expectations regarding interest rates. The reading is expected to show a slight decline in the core consumer price index, while the core consumer price index remains steady in September.

- Steady inflation and a strong labor market give the Federal Reserve less room to cut interest rates sharply. Strong job data released last week has raised this outlook, as traders are now fully pricing in expectations for another 50 basis point cut by the Federal Reserve in November.

- The minutes from the Federal Reserve’s September meeting indicated that policymakers supported a 50 basis point cut but remained noncommittal about the pace of future rate cuts. A weak reduction in interest rates is a negative scenario for gold and other non-yielding assets, as it increases the opportunity cost.
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