Gold prices edged higher on Thursday, supported by a softer dollar, although bullion hovered near the previous session's lows as investors awaited cues from the U.S. Federal Reserve.
Spot gold was up 0.3% to $1,946.09 per ounce by 0441 GMT, after shedding 1% in the previous session. U.S. gold futures GCcv1 held steady at $1,960.60.
Gold has support from expectations of the Fed holding rates next week with prices stuck in the $1,930 to $1,985 range, and bullion could breach the upper range once the U.S. central bank decision is out, said Ajay Kedia, director at Kedia Commodities in Mumbai.
According to economists polled by Reuters, the Fed will not raise interest rates for the first time in more than a year at its June 13-14 meeting.
Source : Reuters
