Gold up

Bengaluru

Gold rose on Thursday as the dollar remained subdued after minutes from the U.S. Federal Reserve´s July meeting hinted at a delay in further rate hikes, while palladium hit a fresh 16-year high.

Spot gold was up 0.4 percent at $1,287.90 per ounce by 0700 GMT, after gaining nearly 1 percent the previous day.

U.S. gold futures for December delivery rose 0.8 percent to $1,293.70 per ounce. "It´s a dollar story and a concern that the market´s been having with regards to geopolitical events," said Dominic Schnider at UBS Wealth Management in Hong Kong.

The U.S. dollar was on the defensive on Thursday after the minutes from the Fed´s last policy meeting showed policymakers were increasingly wary of recent softness in inflation and some called for halting interest rate hikes until it was clear the trend was transitory.