Gold prices were mixed on Thursday as investors looked for guidance on inflation and interest rates from Federal Reserve Chair Jerome Powell.
Spot gold edged up 0.1 percent to $1,949.20 per ounce, while U.S. gold futures were down 0.4 percent at $1,960.85.
Profit taking is seen at higher levels after prices spiked to a two-month high amid escalating Middle East tensions following the Gaza hospital blast that unleashed a torrent of condemnation across the Arab world.
The dollar traded firm and U.S. Treasury yields jumped to 16-year highs after Fed Bank of New York President John Williams said interest rates need to be restrictive "for some time" to bring inflation back to the 2 percent target.
Separately, Fed Governor Christopher Waller noted that it's too soon to say if more policy action is needed.
Fed Chair Jerome Powell is likely to give more clues about inflation and interest rates during his speech at the Economic Club of New York later in the day.
