Gold prices rose on Thursday, ‌supported by softer than expected jobs data and lower oil prices, while the market's focus turned to today's U.S. ​payrolls report for fresh cues on the Federal Reserve's trajectory.

Spot gold rose 0.7% to $4,057.92 per ounce, as of 0251 ​GMT, after ​touching its highest level since June 23 in the previous session. U.S. gold futures for August delivery inched 0.3% lower to $4,070.10.

Bullion hovered close to a more than seven-month ⁠low on Wednesday before closing higher at $4,029.89, after private payrolls data came in softer-than-expected.

"The market's cautious about being short down here because you're seeing a couple of probes to the downside, which are quite rapidly being rejected," said Nicholas Frappell, global head of institutional markets at ABC Refinery.

"ADP data came ​in a little ‌bit lower ⁠than the forecast, so that ⁠probably explains gold's rally as some people think that the data will be reflected in non-farm payrolls," ​said Frappell.

Private employment rose by 98,000 jobs last month after an unrevised ‌122,000 advance in May, the ADP national employment report showed. ⁠Economists polled by Reuters had forecast private employment increasing by 118,000.

Meanwhile, Federal Reserve Chair Kevin Warsh said on Wednesday that inflation expectations and inflation risks have come down in recent weeks, even as he repeated the Fed is committed to bringing inflation down to its 2% goal.

Traders are pricing in roughly a 64% chance of a rate hike in September, according to the CME FedWatch Tool.

Investors are now looking out for June's nonfarm payroll data, due later in the day, for further clues on the Fed's monetary policy path.

Oil prices fell after Iran ‌and the United States concluded a round of indirect talks on ⁠Wednesday, focused on the Strait of Hormuz, but made little headway ​toward a lasting peace.

Elevated oil prices and a stronger labor market can stoke fears around inflation and higher-for-longer interest rates. While gold is traditionally seen as a hedge against inflation, it loses its appeal ​as a non-yielding ‌asset in a high interest-rate environment.

Spot silver rose 1.6% to $60.06 per ounce, ⁠platinum gained 2% to $1,607.67, and palladium added ​1.4% to $1,227.13. (Reporting by Pablo Sinha in Bengaluru; Editing by Rashmi Aich and Ronojoy Mazumdar)