Gold held firm around $2,500 since the close of trading last week as hopes of the Federal Reserve (Fed) paving the way for an interest rate cut for September brightened.
As of 9.30am, the price of gold was at $2,510.43, down a slight 0.8% since it opened in Asian trading on Thursday.
The latest FOMC minute report cheered investors as Wall Street continued to trade 'green' even though the USD currency position fell over 0.20% with the US Dollar Index (DXY) hovering around 101.10 points.
The meeting revealed that Fed officials agreed it may be appropriate to ease policy at the next meeting if data continues to support expectations.
In addition, the decline in inflation and the increase in the unemployment rate for July will continue to pave the way for the immediate implementation of policy easing.
However, most of the officials were unanimous in keeping the July meeting rate and some argued that it was already at its peak.
Most policymakers are increasingly concerned about reaching the maximum employment mandate even though inflationary risks have eased somewhat.
For now, market participants will look to the light economic docket which is the release of Initial Jobless Claims, S&P Global PMI and housing data on Thursday.
On Friday, investors will be watching Fed Chairman Jerome Powell's speech at the Jackson Hole Symposium event hosted by the Kansas City Fed in Wyoming.
