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Gold prices edged up on Thursday on technical buying after touching their highest in over two weeks the session before, with focus shifting to the outcome of a European Central Bank policy later in the day.

The safe-haven asset's reaction was fairly subdued after the third and final U.S. presidential debate between Democrat Hillary Clinton and Republican Donald Trump.

"We're looking for gold prices to rally further into the year-end. The market is waiting for the outcome of the (U.S)presidential elections in November and what the Fed is going to do in December," said OCBC's Gan.

For the time being, the weaker dollar is giving gold a bit of a breather and prompting it to move higher," said INTL FCStone analyst Edward Meir. "But, upside reversal in the dollar, coupled with a more robust rally in stocks, could easily sabotage the recent improvement we have been seeing."

Reference: Reuters