Gold prices firmed on Wednesday as the dollar weakened, with investors awaiting the U.S. Federal Reserve's latest policy meeting minutes and inflation data for signs of how close interest rates are to peaking.
Spot gold rose 0.3% to $2,008.19 per ounce by 1102 GMT. U.S. gold futures was up similarly to $2,025.00.
"The Fed minutes will be closely scrutinised for key insight into how policymakers evaluated the need for higher rates despite the turmoil in the banking sector," said Lukman Otunuga, senior research analyst at FXTM.said lingering financial system vulnerabilities could erupt into a new crisis, but urged member countries to keep tightening monetary policy to fight inflation.
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