2017.10.1900:03:00UTC+00Gold Prices Stable Amid Strong Dollar

Gold prices were almost unchanged early on Thursday as the dollar held strong on the back of stronger U.S. Treasury yields.

Spot gold remained steady at $1,281.24 per ounce. It notched a more than one-week low of $1,276.73 in the session earlier.

U.S. gold futures for December delivery was nearly unchanged at $1,283 an ounce.

U.S. President Donald Trump will announce his decision on who will be the next chair of the Federal Reserve in the “coming days,” according to White House spokeswoman Sarah Sanders.

"Interest rate hikes had not been fully priced in for next year. That has changed massively following speculation that (Fed Governor Jerome) Powell might become the next chairman," said Commerzbank analyst Carsten Fritsch.

Catalonia's leader promised to proceed with his independence bid if Spain moves to suspend the region's autonomy, a regional government source recently disclosed, just hours away ahead of its deadline.

"With dollar strength in mind, it would present further risks to gold, but I'm waiting to see how the Catalonia crisis unfolds tomorrow, pinpointing a possible next move for gold, in either direction," said Jameel Ahmad, vice president of market research at FXTM.

Canada's Bank of Nova Scotia is looking for options for its gold business ScotiaMocatta, which includes a potential sale of the gold trader, according to three sources familiar with the matter.