NEW YORK: Gold prices were steady on Wednesday as investors held back from making large bets ahead of the release of minutes from the US Federal Reserve’s latest policy meeting.

Spot gold held its ground at $1,832.90 per ounce, as of 12:20 a.m. EST (1720 GMT).

US gold futures inched 0.1% lower to $1,840.60.

“Markets could be waiting for the FOMC minutes ... and also the five-year note auction. Both are important for gold because it’s going to determine which way rates starts to move,” said Daniel Pavilonis, senior market strategist at RJO Futures.

All eyes are on minutes of the Fed’s Jan. 31-Feb. 1 meeting due to be published at 2 p.m. EST (1900 GMT), which could offer more clarity on the US central bank’s rate-hike path.