Spot gold was up 0.3% at $3,356.98 per ounce by 1:15 p.m. ET, rebounding from a one-week low from the previous session. US gold futures also gained 0.3%, trading at $3,408.20 an ounce in New York.

Gold extended gains to a third 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.