The main points
Spot gold fell 0.3 percent to $ 1839.21 an ounce by 0042 GMT. Prices fell to their lowest since Jan.18 at $ 1,830.80 on Wednesday. US gold futures fell 0.5 percent to $ 1835.90.
The dollar recorded its highest level in more than a week against the competing currencies in the previous session. A strong dollar makes gold more expensive for holders of other currencies.
On Wednesday, the Fed left its overnight key rate close to zero and made no change to its monthly bond purchases, and once again pledged to keep these economic pillars in place until the pandemic-induced recession is fully recovered.
Gold prices fell on Thursday as investors chose a safer dollar after the US Federal Reserve signaled concerns about the pace of the recovery in the world's largest economy.
The basics
Spot gold fell 0.3 percent to $ 1839.21 an ounce by 0042 GMT. Prices fell to their lowest since Jan.18 at $ 1,830.80 on Wednesday. US gold futures fell 0.5 percent to $ 1835.90.
The dollar recorded its highest level in more than a week against the competing currencies in the previous session. A strong dollar makes gold more expensive for holders of other currencies.
On Wednesday
The Fed left its overnight key rate close to zero and made no change to its monthly bond purchases, and once again pledged to keep these economic pillars in place until the pandemic-induced recession is fully recovered.
Some US states have begun easing restrictions on public health as severe cases of Covid-19 begin to recede in many parts of the country even as the death toll rises.
Holdings of the world's largest gold-backed ETF, the SPDR Gold Trust, fell 0.3% to 1,169.17 tons on Wednesday.
Analysts and traders
Lowered their expectations for gold, but they still expected prices to recover from current levels and many see them reach record levels this year.
Silver lost 0.2 percent to $ 25.18 an ounce, platinum fell 0.2 percent to $ 1063.76, and palladium settled at $ 2,304.81.
A Reuters poll shows that platinum will explode from a 10-year recession this year as demand from investors and car makers achieves the largest annual increase in average prices since 2010.
