Gold price climbed ahead the release of the latest Fed's monetary policy minutes later in the day. Market participants hope for some hints regarding further interest rate hikes.
Market participants also eyed the mixed U.S. economic data. The U.S. Commerce Department released the housing market data on Wednesday. Housing starts in the U.S. declined 3.8% to 1.099 million annualized rate in January from a 1.143 million pace in December, missing expectations for an increase to 1.170 million.
The Federal Reserve released its industrial production report on Wednesday. The U.S. industrial production climbed 0.9% in January, missing expectations for a 0.4% increase, after a 0.7% decline in December.
April futures for gold on the COMEX today rose to 1212.70 dollars per ounce.