Spot gold pared losses on Wednesday after the Federal Reserve released minutes from its September policy meeting.
``The concern was raised that the reference to 'considerable time' in the current forward guidance could be misunderstood as a commitment rather than as data dependent,'' said the minutes of the Fed's Sept. 16-17 meeting, which were released on Wednesday.
Spot gold rose 0.5 percent to $1,215 an ounce. The metal dropped to $1,183.46 earlier in the week—its lowest since June 2013. U.S. gold futures settled $6.40 lower at $1,206.00 an ounce, but rose modestly after the announcement.