Ammon News - Gold extended gains to a third straight session on Thursday, supported by rising expectations of an interest rate cut by the U.S. Federal Reserve in September following tame inflation data, which also weighed on the dollar.

Spot gold rose 0.2% to $3,359.81 per ounce as of 0410 GMT. U.S. gold futures for December delivery added 0.3% to $3,408.50.

The dollar languished near multi-week lows against its rivals, making gold less expensive for holders of other currencies. Benchmark U.S. 10-year Treasury yields held near a one-week low.

U.S. consumer prices rose only marginally in July, strengthening expectations of a Fed rate cut next month, with Treasury Secretary Scott Bessent noting there is a good chance the central bank will opt for a 50 bps reduction.

Non-yielding gold thrives in a low interest-rate environment.

Elsewhere, spot silver gained 0.1% to $38.56 per ounce, platinum eased 0.2% to $1,337.12 and palladium rose 1.5% to $1,139.32. Reuters