By Gina Lee

Investing.com – Gold was up on Thursday morning in Asia, but kept below the $1,800 mark after the suggesting that the central bank could .

They were at $1,792.75 (23:42 GMT) by 9:42 PM ET (3:42 AM GMT) after dropping to the lowest level since Nov. 4, when they fell to $972.75. Normally, the, which is inversely related to gold, fell on Thursday.

The minutes from the Fed’s meeting, released on Wednesday, showed that an increasing number of Fed policymakers would be open to speeding up asset tapering should high inflation continue. The Fed policymakers indicated that they are open to increasing interest rates faster than expected if necessary.

Also released Wednesday data by the U.S., before a U.S. holiday. According to the data, the quarter ended with a 2.1% increase in quarter-over-quarter growth and 199,000 applications were made throughout the week.

Fabio Panetta (ECB Board Member) stated that while the coronavirus pandemic drags along, there are no indications of inflation getting out-of-control.

Andrew Bailey, Governor of the Bank of England will speak later that day at an event hosted by Cambridge Union.

Asia Pacific saw the increase in interest rates to 1% after the policy committee had made its decision earlier that day.

Silver gained 0.5% and platinum shot up 1.2%. Palladium rose 0.7% in other precious metals.