June 10 (Reuters) - Gold prices reversed early losses to edge up on Thursday after data showed U.S. consumer prices increased more than expected last month.

Spot gold gained 0.2% to $1,892.34 per ounce by 11:49 a.m EDT (1549 GMT), having earlier hit its lowest level since June 4 at $1,869.46.

U.S. gold futures were little changed at 1,895.50 per ounce.

“The key takeaway (from the inflation data) is that this market is firmly believing that the U.S. Federal Reserve is not going to change stance anytime soon and the (accommodative policy) playbook for gold remains,” said Edward Moya, senior market analyst at OANDA.

Some pricing pressures remain for gold, but ultimately the belief that “runaway” inflation, which could trigger a Fed policy tightening, is unlikely and that should keep gold supported, Moya said, adding that the Fed’s policy meeting next week could act as a near-term catalyst to push gold prices higher.

Data showed U.S. consumer prices increased further in May as the coronavirus pandemic’s easing grip on the economy continued to boost domestic demand. Weekly jobless claims also dropped to their lowest level in nearly 15 months.

But given that current price hikes are transitory and likely tied to the economic recovery, safe-haven demand should wane and gold prices should move lower, said Carsten Menke, an analyst at Julius Baer.

Investors also took stock of the European Central Bank raising its growth and inflation projections but pledging to a steady flow of stimulus over the summer, at its policy meet earlier in the day.

Among other precious metals, silver rose 0.5% to $27.89 per ounce, palladium was down 0.7% at $2,759.11, while platinum fell 0.5% to $1,144.84.