Spot gold in the international market steadied at $1255.59 even as dollar softened as the Federal Reserve's June policy minutes are awaited. In the previous session, the yellow-metal hit a one-week high.
During the Fed meet, the central bank has hinted at probable 2 rate hikes in 2018 out of a total of 4. The effect on the precious metal is seen as the expectations of more rate hikes by the US Fed are anticipated.
In the domestic market however, gold price is seen rising at Rs. 31,580 per 10 grams due to strengthening demand from jewellery in light of positive cues from the international market. Also, 22K gold has inched higher in price at Rs. 31,430 per 10 gm.
Also, silver prices gained ground and inched higher in price by 690 to Rs. 40,600 per kg due to by increased offtake by industrial units and coin makers.
On Wednesday, the precious yellow metal gained Rs. 210 while in the Thursday's session it surged in price by just Rs. 10 per 10 gm.
However, sovereign gold remained unchanged in price at at Rs. 24,800 per piece of eight grams in limited deals.