Gold Steadies Under $1160 as Dollar Slips after Fed

Gold was steady and holding above a four-month trough on Thursday as the dollar softened after minutes from the Federal Reserve’s last meeting showed they needed to see more signs of a strengthening U.S. economy before raising interest rates.

Spot gold was little changed at $1,156.81 an ounce by 0045 GMT, but off Wednesday’s low of $1,146.75, the weakest since March 18.  U.S. gold for August delivery slipped 0.6 percent to $1,156 an ounce.

The minutes from the Fed’s June 16-17 meeting show how the central bank continues to grapple with its plan to raise rates later this year, in the wake of mixed economic data domestically and market turmoil gathering steam abroad.