Minutes from the Federal Open Market Committee's January meeting expressed concern that raising interest rates too soon could pour cold water on the U.S. economic recovery. Policy makers also fretted over the impact of dropping "patient" from the central bank's interest rate guidance.
Spot gold rose 0.1 percent to $1,209.56 an ounce at 3:07 p.m. EST (2007 GMT), after earlier falling to a six-week low at $1,197.56. U.S. gold futures for April delivery settled down $8.40, or 0.7 percent, at $1,200.20 an ounce.
Platinum prices also rose after sliding to their lowest in 5-1/2 years.
Gold has come under pressure from expectations the Fed will raise interest rates as early as June, potentially lifting the dollar and boosting the opportunity cost of holding non-yielding assets like bullion.
Earlier, gold prices had extended the prior day's steep losses as hopes for a resolution to Greece's debt talks sent European stocks to a seven-year high. Prices found technical support at the 61.8 percent Fibonacci retracement level from the January high to the November low.
Sumber : ewfpro.com
