Gold eased on Thursday as the dollar came off its lows and world stock markets scaled fresh highs, giving back some gains from the prior session when US Federal Reserve minutes suggested it could be more cautious with interest rate increases. Fed policymakers had agreed at the meeting that they should hold off from raising rates until it is clear that a recent US economic slowdown is only temporary, though most said an increase is coming soon.
Spot gold was down 0.2 percent at $1,255.91 an ounce by 3:32 p.m. ET (1932 GMT), while US gold futures settled up 0.3 percent at $1,256.40. Capital Economics analyst Simona Gambarini said that gold's resilience could falter in coming weeks, citing indications in the Fed minutes that tighter monetary policy is on the cards. Among other precious metals, silver fell 0.3 percent to $17.14 an ounce while platinum gained 0.3 percent to $946.95 and palladium rose 0.9 percent to $770.
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