Investing.com - Gold prices eased in early Asia on Thursday as investors noted a weaker growth outlook and took profits from earlier in the U.S. session.
On the Comex division of the New York Mercantile Exchange, gold for December delivery traded at $1,220.30 a troy ounce, down 0.16%.
Overnight, gold futures rose for the third consecutive session as investors digested the Federal Reserve minutes.
The Federal Reserve's debate on its interest rate guidance heated up last month, with several officials showing concern about misleading investors and pushing for a more data-dependent approach, according to minutes from its last policy meeting.
But as the Fed grapples with how to communicate its view on hiking rates, the minutes also show concern about the rising dollar, slowing inflation, and economic turmoil in Europe and Asia, factors that support the U.S. central bank's current of keeping policy accommodation in place for the near future.
"The concern was raised that the reference to 'considerable time' in the current forward guidance could be misunderstood as a commitment rather than as data dependent," said the minutes of the Fed's Sept. 16-17 meeting, which were released on Wednesday.
Also on the Comex, silver for December delivery fell 0.26%, to trade at $17.348 a troy ounce. Prices fell to a four-year low of $16.64 on Oct. 3.
Elsewhere in metals trading, copper for December delivery slumped 0.28% to trade at $3.023 a pound. Prices hit a six-month low of $2.985 on Oct. 2.
The International Monetary Fund cut its global economic growth forecasts for the third time this year on Tuesday and warned that the recovery remains weak and uneven.
The organization is now forecasting global economic growth of 3.3% this year, down from 3.4% in July and expects growth of 3.8% in 2015, compared to an earlier prediction of 4.0%.