Gold prices inched higher on Wednesday but hovered around a recent low, after a jump in U.S. retail sales kept the dollar close to a 16-month high. Spot gold rose 0.2% to $1,854.39 per ounce by 0207 GMT, but the metal was still only about $6 shy off its lowest level since last Friday hit in the previous session. U.S. gold futures gained 0.2% to $1,857.10.