Gold inched up on Thursday, but was still headed for its longest stretch of monthly declines in more than 16 years as an improving economic outlook dimmed its safe-haven appeal. Spot gold edged up 0.3 percent to $1,601.40 an ounce by 0714 GMT, on course for a monthly decline of nearly 4 percent. It has been in the red for five straight months, the longest such losing streak since late 1996 to early 1997. US gold was also up 0.3 percent, to $1,601.20.