They awaited a European Central Bank (ECB) meeting on Thursday that might signal higher interest rates and U.S. jobs data on Friday for clues to the outlook for U.S. rates.
"Gold had a pretty good run over the last few weeks and it's consolidating some of these gains. Unless you see any further material macro news coming out, gold is likely to remain stable," said Michael Widmer, analyst at Macquarie Bank.
"I am still positive on the price," he said, adding the ECB meeting might provide direction to the market.
Gold
It hit a one-month high of $630.50 an ounce on Wednesday, mainly on safe-haven buying after North Korea tested a series of missiles, but there was no follow-up on Thursday despite a statement from Pyongyang promising more missile launch exercises.
"Overnight gold has remained confined between $625.00-$628.50, but with global tensions still high and oil prices making fresh records, gold will continue to draw interest from investors and speculators looking for a safe-haven, anti-inflationary hedge," TheBulliondesk.com said in a note.
Oil held near record highs above $75 a barrel, supported by worries over Iran's nuclear program and expectations of a drop in U.S. gasoline stockpiles as the summer season gets into gear.
The dollar eased against the euro ahead of the ECB meeting.
A weak dollar makes gold cheaper for holders of other currencies and often lifts demand.
The physical sector lacked activity, with jewelers and investors on the sidelines because of volatile bullion prices. Premiums for gold bars were unchanged at zero to the spot London prices in Singapore and Hong Kong
Physical demand in India, the world's largest gold consumer, remained dull in the current lean season, but purchases were expected to rise from mid-August with the start of the festival season.
Platinum
Silver
$11.38/11.46.
