Gold bounces back as recovery concerns reappears after Fed minutes

Gold prices on Thursday rebounded after incurring hefty losses in the previous session after the U.S. Federal Reserve raised concerns that a recovery from the coronavirus-induced economic slump faced a highly uncertain path, weighing on risk sentiment.

Spot gold was up 0.9% at $1,946.09 per ounce by 0307 GMT, after declining more than 3.5% to a near one-week low on Wednesday.

U.S. gold futures fell 0.9% to $1,952.90.