Ammon News - Gold prices were broadly steady on Thursday, supported by dovish Federal Reserve signals but restrained by a resilient dollar ahead of key U.S. inflation data this week, while silver hovered near record highs.

Spot gold fell 0.2% to $4,333.12 an ounce as of 0652 GMT, after rising more than 1% late on Wednesday. U.S. gold futures also eased 0.2% to $4,363.60.

The dollar index held on to earlier gains after touching a nearly one-week high on Wednesday, limiting upside in greenback-priced bullion.

Spot silver rose 0.1% to $66.36 an ounce after hitting a record high of $66.88 in the last session, and is up 130% year-to-date, outpacing gold's 65% gain on firm industrial demand, steady investment interest and tightening inventories.

Some analysts expect silver to test the $70-per-ounce level next year, particularly if U.S. interest rate cuts continue to underpin appetite for precious metals.

Fed Governor Christopher Waller said the central bank can still cut rates amid a cooling labour market and would "absolutely" defend its independence if challenged, as he awaited an interview with U.S. President Donald Trump for Powell's succession.

Earlier this week, data showed the U.S. unemployment rate rose to 4.6% in November, above a Reuters poll forecast of 4.4% and the highest since September 2021.

Platinum rose 4% to $1,973.91, a more than 17-year high, while palladium added 2.4% to a nearly three-year high of $1,687.39.

Reuters