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Gold today gained on speculation the Federal Reserve will continue with stimulus and as a drop to the lowest price in more than two weeks boosts physical demand.
Gold rose by 0.4 per cent to $1,662.34 an ounce.
Prices reached $1,652.09 yesterday, the lowest since January 9. Silver also rose by 0.8 per cent to $31.11 an ounce.
Gold fell for a fourth day yesterday, the worst run since October. Fed minutes of the December 11 meeting released January 3 showed officials began debating an end to its bond-buying as early as this year.
The central bank, starting a two-day meeting today, will renew its commitment to asset buying after determining the benefits from the program exceed any risk of inflation or financial instability, according to economists surveyed January 24-25.
Bullion gained for a 12th straight year in 2012, the best run in at least nine decades, as nations pledged more action to bolster economic growth. Prices almost doubled in the four years through December 2012 as the Fed expanded asset purchases.
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