Gold down

Bengaluru : Gold prices inched lower on Thursday as the dollar firmed amid expectations of higher U.S. interest rates, but the precious metal continued to hold above a key support level of $1,200.

Spot gold was down 0.4 percent at $1,202.02 an ounce at 0646 GMT, while U.S. gold futures were down 0.3 percent at $1,207.80 an ounce.

Spot gold has been trading within an $8 range over the past two sessions,

with investors keenly watching the psychological $1,200 level after the

metal broke below that mark and hit a one-1/2-year low of $1,159.96 early this month.

"There is certainly some ambiguity following last week´s Jackson Hole symposium where Federal Reserve Chair Jerome Powell was a little bit dovish in investors´ point of view," ANZ analyst Daniel Hynes said.