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Gold prices eased on Thursday from last session's one-month peak, weighed down by hawkish policy remarks by U.S. Federal Reserve officials even as data pointed to signs of inflation peaking.

Spot gold edged 0.1% lower to $1,790.99 per ounce by 1022 GMT, after hitting its highest since July 5 at $1,807.79 on Wednesday.

U.S. gold futures fell 0.4% to $1,806.10.

"Gold has struggled to make significant headway despite the correction in both the U.S. dollar index and the easing in the 10-year U.S. treasury bond yield," said independent analyst Ross Norman.

"Weighing on investors' minds is the notion that maybe we have seen peak inflation following the softer-than-expected CPI, coupled with hawkish remarks by two FOMC members, with gold slipping back to technical support on the charts."

The dollar index weakened, making bullion appealing for overseas investors.

The July CPI report came in softer than expected, causing markets to reposition on hopes that inflation was peaking.

However, Fed policymakers noted that they would continue to tighten monetary policy until price pressures were fully broken.

StoneX analyst Rhona O'Connell said Fed Chair Jerome Powell's argument that the United States is not in a recession has been validated thus far by the non-farm employment number, which points to continued labour tightness, and the market therefore is looking at a 75-basis-point interest rate hike in September.

While gold is considered an inflationary hedge, rising U.S. interest rates increase the opportunity cost of holding non-yielding bullion.

But, there's a lot of data to come ahead of the next FOMC meet, and gold continues to consolidate in its new range, O'Connell added.

Focus now turns to U.S. producer prices data, along with jobless claims numbers later in the day.

Elsewhere, spot silver fell 0.3% to $20.51 per ounce, while platinum rose 2.1% to $961.81.

Palladium jumped 1.1% to $2,263.81.