Gold prices were steady on Thursday, supported by uncertainty surrounding US President Donald Trump's economic policy after Wednesday's Federal Reserve minutes failed to give the market much direction, despite its support for interest rate hikes.
"Gold continues to tread water post the Federal Open Market Committee minutes, probably the highlight of a very light data week," said Jeffrey Halley, senior market analyst at OANDA. Spot gold edged down 0.1 percent to $1,236.16 per ounce at 0714 GMT, while US gold futures rose 0.3 percent to $1,237.5. Many Fed policymakers said it may be appropriate to raise interest rates again "fairly soon" should jobs and inflation data come in line with expectations, according to the minutes of the Fed's last policy meeting. Spot gold remains neutral in a range of $1,233-$1,240 per ounce, according to Reuters technical analyst Wang Tao.
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