Gold prices inched up on Thursday, after marking a 2-1/2 week low in the previous session, with the dollar easing ahead of a key European Central Bank meeting later in the day.

Fundamentals

* Spot gold was up 0.1 per cent at $1,278.61 an ounce by 0042 GMT. It hit its lowest since Oct. 6 at $1272 an ounce in the previous session.

* US gold futures for December delivery rose 0.1 per cent to $1,280.20 an ounce.

* The dollar index, which measures the greenback against a basket of major currencies, was down 0.1 per cent at 93.622.

* Worldwide debt has risen to a record $226 trillion - more than three times global annual economic output - and firms in more countries are struggling to service loans, a study shows, just as key central banks prepare to end super-cheap credit policies.

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