Gold remains in a comatose state.
Spot gold held its ground at $1,708.35 per ounce, as of 0726 GMT. U.S. gold futures eased 0.3% to $1,704.80.
"Gold remains in a comatose state, unable to sustain gains above $1,720 and unable to rally even as the U.S. dollar fell overnight," OANDA senior analyst Jeffrey Halley said. Offering some respite to gold, expectations for a 100-basis-point rate hike by the Federal Reserve at its policy meeting next week stood at about 30%, according to CME's FedWatch ToolMarket participants are now anticipating a 75-basis-point hike by the Fed at its July 26-27 meeting. The European Central Bank and the Bank of Japan both are meeting on Thursday, with the ECB widely expected to deliver a 25-basis-point hike.
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