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Gold prices ticked higher again on Thursday around a two-month high on concerns surrounding inflation and geopolitical tensions between Russia and Ukraine.
Spot gold climbed $2.54 or 0.14 percent to $1,840.96 per ounce, while U.S. gold futures were up 0.2 percent at $1,840.
Ahead of next week's Federal Reserve policy meeting, U.S. President Joe Biden backed the central bank's plans to scale back stimulus, saying taming inflation is a critical job for the Federal Reserve.
He also indicated his $2 trillion economic agenda will have to be broken up so that a scaled back version can pass Congress.
On Russia-Ukraine tension, Biden said the U.S. and its European allies are united on making sure Russia would face "severe economic consequences" if Putin attacks. He also suggested a full-scale invasion may not be in the Russian leader's plans.
Inflation worries returned to the fore after data showed Germany's producer prices grew at the strongest pace since the series began in 1949, driven by higher energy prices.
Meanwhile, China stepped up its monetary easing efforts by cutting its mortgage reference rate for the first time in nearly two years.
