Gold prices edged higher on Thursday as the weakening dollar and continuing concerns over the U.S. budget deficit supported demand for the precious metal. OANDA analyst Kelvin Wong said those factors could support gold prices over the medium term. Markets are watching remarks from Federal Reserve Chair Warsh for clues about the direction of monetary policy. The U.S. Treasury has expanded its purchases of long-term bonds, fueling concern about further dollar depreciation, while gold gained more than 5% last week. Qatar’s prime minister is also set to visit Tehran as diplomatic mediation resumes.