Gold prices rose in Asian trade on Thursday, staying close to record highs as a rebound in the dollar cooled ahead of key inflation data that is likely to factor into the outlook for interest rate cuts.

Most Asian currencies firmed on Thursday, albeit slightly, as a rebound in the dollar stalled ahead of key economic readings that are likely to factor into the outlook for interest rate cuts.

Oil prices steadied in early Asian trade on Thursday after a smaller than expected draw in U.S. inventories brewed concerns over cooling demand, although the prospect of extended supply disruptions in Libya kept losses limited. 

Asian shares followed Wall Street futures lower on Thursday as Nvidia (NASDAQ:NVDA)'s results disappointed some bullish investors, while the dollar steadied and the Treasury yield curve came within a whisker of turning positive.

Nvidia's quarterly forecast on Wednesday failed to meet lofty expectations of investors who have driven a dizzying rally in its stock as they bet billions on the future of generative artificial intelligence.

U.S. stock index futures fell in evening deals on Wednesday, with losses geared towards technology stocks as market darling Nvidia dropped as an underwhelming revenue forecast eclipsed strong earnings.