Gold prices were steady on Thursday, as Asian equities weighed on the impact of the dollar's appreciation, which was strengthened after the US Federal Reserve's September minutes confirmed expectations of tightening US monetary policy.
On Thursday morning, the spot price of gold was stable at $ 1222.23 an ounce to stay close to its highest level since July 26, $ 1233.26 an ounce, recorded Monday.
US gold futures fell 0.2 percent to $ 1225.20 an ounce.
"Gold is tracking both the US dollar and the equities closely, but the dollar is higher," said Peter Fong, chief trader at Hong Kong's precious metals' Wing Fung.
The dollar index rose to a new high in today's week.
"When the debate becomes how to raise interest rates, it will have a negative impact on the price of gold in the short term," said Naeem Aslam, market analyst at Think Markets UK.
"But there is a big possibility for the wrong calculations here, so we think any drop in the price of gold might have an opportunity," Aslam was quoted as saying.
