21.11.201701:44:00UTC+00Gold Prices Climb as Fed Minutes in Focus

Gold prices rose on Tuesday prior to the release of minutes of the U.S. Federal Reserve's previous meeting that might offer indications on the clip of the central bank's interest rate increases.

The minutes of the Fed's last policy meeting, when it held interest rates unchanged, will be released on Wednesday.

Spot gold climbed 0.2 percent at $1,279.67 an ounce. The precious metal dropped around 1.4 percent on Monday in its largest one-day percentage decline since Sept. 11.

U.S. gold futures for December delivery rose 0.3 percent to $1,279.30.

Fed Chair Janet Yellen recently said that she would resign her seat on the Fed's Board of Governors once Jerome Powell is confirmed and sworn in to replace her as head of the U.S. central bank.

Traders are also paying attention to the geopolitical front after U.S. President Donald Trump put North Korea back on a list of state sponsors of terrorism.

Spot gold may break a support at $1,274 per ounce, and fall towards the Oct. 6 low of $1,260.16, according to Reuters technical analyst Wang Tao.

Among other precious metals, silver climbed 0.3 percent to $16.96 per ounce while platinum rose 0.6 percent to $928.70. Palladium added 0.2 percent to $990.60 per ounce.