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Gold prices struggled near the lowest level in nearly two weeks during Europe's session on Thursday, as investors focused on the next set of U.S. data to see whether it supports expectations that the Federal Reserve will raise interest rates before the end of the year.

Markets are pricing in just a 15% chance of a rate hike at the Federal Reserve's September 20-21 meeting, according to Investing.com's Fed Rate Monitor Tool. For December, odds stood at around 53%.

The gold market is on the defensive. It has remained under pressure despite the clear and marked reduction in market expectations of a U.S. rate hike later this month," said HSBC analyst James Steel

Reference: Reuters, Investing