02:00 PM EDT, 08/29/2024 (MT Newswires) -- (Updates prices.)

Gold edged higher early on Thursday following two days of losses even as the dollar and yields rose as the U.S. reported its economy rose more than first thought in the second quarter.

Gold for December delivery was last seen up US$23.00 to US$2,560.80 per ounce, topping the record close of US$2,555.20 set earlier this week.

The rise comes even as the U.S. Bureau of Economic Analysis revised its estimate for second-quarter economic growth to 3.0% from its initial 2.8% figure, showing the economy remained robust despite high interest rates even as the Federal Reserve plans to begin cutting them from a current 23-year high as soon as next month.

The dollar rose following the data, with the ICE dollar index last seen up 0.2 points to 101.29.

Treasury yields were also higher, with the U.S. two-year note last seen up 3.1 basis points to 3.904%, while the 10-year note was up 2.9 basis points to 3.869%.