Comex December gold futures are called to open around 30 cents higher Thursday, traders said. September silver is called to open up 3.5 cents.

In European trade, spot gold made a break above the 100-day moving average at $630 a troy ounce but has since failed to build upside momentum in sluggish trading.

At 8:03 a.m. EDT, spot gold is trading $1.80 higher at $630.30 an ounce while Dec futures at the Chicago Board of Trade are up $1.40 at $640.30 an ounce.

In other markets, the dollar is trading lower while the euro makes gains on the day. The Nybot U.S. dollar index is trading down at 84.64 from 84.89 on Wednesday. The euro is trading at $1.2885, up from Wednesday's close of $1.2838.

On tap for Thursday is jobless claims at 8:30 a.m. EDT followed by the DJ-BTMU business barometer at 10 a.m. EDT along with the July conference board leading indicators. Data on money supply will be released at 4:30 p.m. EDT.

In New York on Wednesday, gold futures bounced as the dollar weakened after inflation data that seemingly reinforced the Federal Reserve's recent decision to pause in monetary tightening, traders and analysts said.

December gold settled $6.10 higher to $639 an ounce on the Comex division of the New York Mercantile Exchange, while September silver added 20 cents to $12.285.

Comex gold warehouse stocks were unchanged at 8,178,823 ounces Wednesday, while silver stocks were down 451,492 ounces at 102,622,489.