Gold prices fight to hold ground above key level, Fed in focus

Spot gold had edged up 0.2 percent to $1,666.44 an ounce by 0619 GMT. It rose above the key 200-day moving average in the previous session, which stood just below $1,663.

U.S. gold was up 0.3 percent at $1,666.

Purchases in Asia's physical market were slow, as buyers that beefed up their inventories earlier in the month moved to the sidelines, waiting for clear direction in prices.

"We see some buying from Shanghai, but overall the volume is small," said Peter Fung, head of dealing at Wing Fung Precious Metals in Hong Kong. "There is no direction and gold will remain in a range between $1,620 and $1,700.

"A recent rise in U.S. Treasury yields helped weigh on gold sentiment as investors unwind their safe-haven buying, Fung added.

In other metals, spot platinum rose 0.4 percent to $1,682.24, headed for a second straight session of gains, shrugging off news that Anglo American Platinum, the world's top platinum producer, has delayed job cuts to allow time for talks with the South African government and unions.

Spot silver was flat at $31.38.