FX.co ★ Gold Edges Higher In Choppy Trade

Gold reversed course to trade higher on Thursday, after having fallen to a two-week low earlier amid signs that the Federal Reserve is prepared to continue raising interest rates in the coming months to control inflation.

Spot gold rose 0.3 percent to $1,766.90 per ounce, while U.S. gold futures were up 0.2 percent at $1,780.65.

The dollar held at a three-week high after minutes from the Federal Reserve's meeting in July suggested policymakers are less likely to step away from hiking rates until inflation declined substantially.

Fed officials observed that inflation remained unacceptably high and there was little evidence that it would recede yet.

Participants believed that it would be necessary to move to a "restrictive stance of policy" but the pace of future interest-rate increases would hinge on incoming data. Meanwhile, final Eurostat data showed today that Eurozone's Inflation surged 8.9 percent year-on-year in July, matching estimates.

U.S. weekly jobless claims for the week ended August 13 and existing home sales and leading index data are due out in the New York session.