Gold prices shot up on Wednesday as weaker-than-expected U.S. data pushed the dollar lower. Investors also digested the release of a summary from the Fed's latest meeting.
Federal Reserve officials on Wednesday indicated positive views on economic growth, but were more cautious when evaluating market conditions.
Outgoing Fed Chair Janet Yellen said rates should rise gradually but warned she was "very uncertain" that inflation would soon rebound, suggesting a cautious approach to rate increases.
Already down on the day, the dollar weakened further after data showed new orders for key U.S.-made capital goods unexpectedly declined in October. U.S. bond yields also fell.
Gold is sensitive to rising rates because they tend to boost the dollar, making gold more expensive for holders of other currencies, and push up bond yields, reducing the appeal of non-yielding gold.