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Gold prices held at 10-month highs on Wednesday and the dollar sagged on lower U.S. yields as investors awaited the Federal Reserve's policy meeting minutes due later in the session for clues on policymakers' thinking on interest rates and its balance sheet reduction policy.
New York Fed President John Williams on Tuesday said that he sees no need to raise interest rates again unless growth or inflation surprise to the upside.
Spot gold rose 0.2 percent to $1,344.17 per ounce while U.S. gold futures were also up 0.15 percent at $1,347.05 an ounce.
The dollar retreated before Fed policy minutes while the Chinese yuan hit a three-week high on hopes for a U.S.-China trade deal.
Higher-level talks with Chinese Vice Premier Liu are planned later this week while a Xi-Trump meeting is likely next month to strike a deal or secure a memorandum of understanding.
The Bloomberg reported on Tuesday that the U.S. would try to secure a pledge from China that it will not attempt to depreciate the yuan as part of a trade deal.
