Gold prices steady -----

Gold was little changed on Wednesday as investors stayed on the sidelines ahead of the release of the minutes from the Federal Reserve's July policy meeting, although higher bond yields kept bullion prices near six-week lows, reports Reuters.

Spot gold was up 0.1 per cent at $1,904.30 per ounce by 9:48 a.m. EDT (1348 GMT), while US gold futures were steady at $1,936.40.

"The broader economic situation looks better than it did three months ago and inflation seems to be coming down the way the Fed wants, and in such a situation there is less need for safe-havens like gold," said Everett Millman, chief market analyst at Gainesville Coins.

"The path of least resistance seems to be lower for gold right now, and we're very close to breaking below the $1,900 level, which is kind of a key psychological level."

Gold prices have dropped more than 8 per cent, or nearly $170 per ounce, since scaling above the key $2,000 level in early May, as a rally in U.S. Treasury yields and a strong dollar took the shine off non-yielding bullion.

Gold is highly sensitive to rising US interest rates, as these increase the opportunity cost of holding it.

Silver rose 0.7 per cent to $22.65 an ounce and platinum gained 0.7 per cent to $894.27. Palladium edged 0.1 per cent lower to $1,233.31.