By: Mahmoud Gamal

Mubasher: Gold prices increased on Thursday, after the US Federal Reserve showed lack of clarity on the new Trump administration's economic programme.

By 04:05 GMT, Spot gold inched up 0.25% to $1,237.5 per ounce.

US gold futures were 0.36% higher, marking $1,237.75 per ounce.

The minutes of the 31 January – 1 February's Fed meeting deepened uncertainty due to the lack of clarity on the new Trump administration's economic programme, Reuters said.

US President Donald Trump is scheduled to make a statement before Congress next week to announce his tax policies.

The Fed minutes showed on Wednesday that many policymakers believe it may be appropriate to increase the rate again fairly soon, if the data of the labour market and inflation came in line with or were stronger than current expectations.

The Federal Reserve Bank referred to the interest rate in a dovish tone, said technical analyst Mohamed Zaidan, expecting a horizontal performance for gold in the coming sessions to $1,220 – $1,245.

Last week, Fed chair Janet Yellen said that waiting too long to raise rates again would be "unwise", according to Reuters.

Translated by: Sara Ghali