While colder-than-expected U.S. inflation data stimulated bets that the Federal Reserve could raise rates once more next month before taking a break, gold prices rose for a third session consecutive Thursday.

At 0332 GMT, spot gold was up 0.1% to $2,016.99 per ounce. U.S. gold futures rose 0.3% to $2,030.70. After rising 0.4% in February, gold prices rose by more than 1% on Wednesday after data showed that the Consumer Price Index (CPI) rose by 0.1% last month, compared to expectations of a 0.2% increase. Gold is seen as a hedge against inflation, but rising interest rates are reducing the attractiveness of unyielding bullion.

Cash was up 0.1% at $25.50 per ounce, platinum was stable at $1,015.06, and palladium rose 0.3% to $1,464.16.