Gold gains for fourth day

Gold prices rose for a fourth straight session on Thursday, driven by safe-haven demand amid escalating tensions between Ukraine and Russia, while investors awaited remarks from US Federal Reserve policymakers for clues on the interest rate outlook.

Spot gold was up 0.5 percent to $2,663.47 per ounce, as of 0745 GMT, while US gold futures rose 0.6 percent to $2,666.20.

The escalation in the Ukraine war and "subsequent fears of a broader regional conflict that involves increasing threats of nuclear weapons are pushing up prices", said Kyle Rodda, financial market analyst at Capital.com.

Ukraine fired a series of British Storm Shadow cruise missiles into Russia on Wednesday, just a day after firing U.S. missiles.

Adding to ongoing geopolitical tensions, the US vetoed a UN Security Council resolution calling for a ceasefire in Gaza.

Gold's appeal is bolstered by geopolitical tensions, economic risks and a low interest rate environment.

Meanwhile, the dollar paused its climb as traders sought clarity on Donald Trump's policies and the Fed's outlook.

Investors will monitor remarks from several Fed officials later in the day, while keeping an eye on initial US jobless claims data, due at 1330 GMT.

Two Fed governors offered contrasting perspectives on US monetary policy on Wednesday, with one raising concerns about stubborn inflation, while the other remaining optimistic about continued progress in reducing price pressures.

Markets see a 52 percent chance of a 25 basis points rate cut in December, per the CME Fedwatch tool.

"There are still questions surrounding whether the Fed will cut in December or not, given signs of sticky prices, resilient demand and looser fiscal settings next year," Rodda said, adding that gold remains on a bullish trend in the longer term.