The minutes from the U.S. central bank's September meeting due out later in the day could move the dollar, and in turn gold, if they shed light on whether the U.S. central bank is likely to cut interest rates again in October.

"Gold is under pressure because of a weaker euro, but the metal is still looking good and sentiment remains positive. However, prices might slip towards $725 in the short-term before rising again," said Michael Kempinski, a trader at Commerzbank.

Read Full Story