Gold prices fell for a second straight session on Thursday after the latest FOMC meeting minutes offered few surprises, with many officials advocating the use of both interest rate increases and reductions in the size of the Fed's balance sheet to achieve a neutral posture.
Spot gold dipped half a percent to $1,844.46 per ounce, while U.S. gold futures were down 0.2 percent at $1,842.97.
The dollar edged higher in early European trade and Treasury yields gained ground amid signs that the Federal Reserve would stick to hiking interest rates by 50 basis points in June and July to combat inflation.
The Fed is behind the curve with fighting inflation and board members believe that getting rate hikes in the books now "would leave the Committee well positioned later this year to assess the effects of policy firming."
In economic releases, market participants looked ahead to the release of key U.S. GDP, labor and housing market data later in the day for further clues about the outlook for the world's largest economy.
