Gold climbed above four-month lows on Thursday as the dollar softened after minutes from the Federal Reserve's last meeting showed the central bank needed to see more signs of a strengthening US economy before raising interest rates. Gold pulled out of a tighter trading range during the Asian morning session after the dollar weakened as investors kept an eye on stabilising Chinese stocks and progress in Greece's debt saga.
Spot gold was up 0.6 percent at $1,164.30 an ounce by 0616 GMT, above Wednesday's low of $1,146.75, the weakest since March 18. "What's happening in China would be a drag on gold prices because you have so many Chinese getting their fingers burned at this stage, so they simply have no more funds or money left to buy gold," said Howie Lee, an analyst at Phillip Futures in Singapore.
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