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Gold prices hit a more than two-week high on Thursday as the US dollar and Treasury yields weakened after lower oil prices eased inflation concerns, while investors awaited key US payrolls data for rate policy clues.

Spot gold was up 0.9% to $4,095.49 per ounce by 11:12 a.m. ET (1612 GMT) after hitting a session high of $4,146.63 per ounce, a level last seen on October 20.

Gold had jumped nearly 3.4% on Wednesday, its sharpest daily rise since August 19, with prices up over $250 this week from a one-year low of $3,869.85 hit on Friday.

US gold futures for December delivery rose 0.8% to $4,105.80 per ounce.