News gold prices edged higher on Thursday, extending gains into a third session as a weaker dollar made the metal cheaper for buyers holding other currencies. Spot gold was up 0.2% at $1,784.96 per ounce by 0146 GMT. U.S. gold futures were little changed at $1,784.60. Bullion prices have traded between $1,759 and $1,788 this week. The dollar weakened on Thursday, keeping the metal near the higher end of its range. Two U.S. Federal Reserve officials said on Wednesday that while the central bank should start tapering its stimulus measures, it was too early to raise interest rates. The Bank of England would be the first major central bank to raise rates in the post-pandemic cycle. But economists polled by Reuters think the first hike will not come until early next year, making it later than market prices. Gold is often seen as an inflation hedge, although tapering stimulus and rising interest rates push up government bond yields, which translates into a higher opportunity cost of holding bullion to avoid paying interest. Russia’s gold reserves stood at 73.9 million troy ounces in early October, the central bank said on Wednesday. Spot silver rose 0.3% to $24.33 an ounce, and platinum rose 0.1% to $1,051.12. Palladium fell 0.3% to $2,066.53. Russia’s Nornickel, the world’s largest palladium producer, said its third-quarter palladium output rose 9% to 598,000 troy ounces. Platinum output rose 8% to 145,000 troy ounces.