Gold edged down early on Thursday to hover around its lowest in nearly two weeks, with investors turning their attention to U.S. consumer inflation data later in the day for clues on the timing of further interest rate hikes.

Fundamentals

* Spot gold was down 0.2 percent at $1,320.21 an ounce by 0048 GMT, after earlier dropping to its lowest since Sept. 1 at $1,318.96.

* U.S. gold futures for December delivery were down 0.3 percent at $1,324.50 an ounce.

* Asian stocks edged down on Thursday, consolidating after ascending a decade-high, while the dollar held steady before the U.S. inflation report for August is published.

* U.S. producer prices rebounded in August, driven by a surge in the cost of gasoline, and there were also signs of a pickup in underlying producer inflation.

* The European Central Bank's chief economist renewed his call on Wednesday for a "steady hand" in conducting the ECB's ultra-easy monetary policy despite a positive growth outlook.

* The Bank of England must decide how forcefully to talk about the prospect of a first interest rate rise in a decade on Thursday when it will weigh up the need to help Britain's Brexit-bound economy against tackling a jump in inflation.

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