Gold Prices rose after minutes from a June Federal Reserve meeting showed Fed officials were ready to reduce the $ 4.5 billion bond-side balance of payments to boost the economy during and after the financial crisis.
The spot gold price of LLG rose 0.15 percent to 1,225.41 after initially dropping 0.21 percent after the announcement.
US gold futures for August delivery ended at $ 1,221.70, up $ 2.50.
A stronger US dollar makes gold more expensive for holders of other currencies and higher bond yields increase the opportunity cost of holding unproductive gold. The rise in interest rates meanwhile higher bond yields and tend to push the dollar.
Bond yields have risen sharply in recent weeks as some central banks signal they will tighten monetary policy, while Federal Reserve officials appear unaffected by weak economic data and low inflation.
That caused the price of gold to fall more than 3 percent from the highest level at $ 1,258.81 on June 23.
Analysts said if the minutes of the Fed meeting confirm that they hold on to their views on the economy and higher interest rate projections, this will not help the gold market.
Investors are also looking ahead to Friday's jobs data that could affect the rate of rate hikes.
In other precious metals, silver fell 0.25 percent at $ 16.03 an ounce, trading well below the psychologically important $ 16 level for the first time since January. Platinum was down 0.04 percent at $ 909.60 an ounce and palladium fell 1.25 percent at $ 840.85.
Estimates gold prices may rise as concerns rise in interest rates after Fed officials are divided into approval of US interest rate hikes .. Gold prices are expected to move within the $ 1.227- $ 1.229 Resistance range, and if prices move down it will break the range Support $ 1,223- $ 1,221.
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