The Federal Reserve's hawkish hints increased the value of the dollar and hinted at further harm for the yellow metal, but gold prices held steady in Asian trade on Thursday after three straight days of declines.

Spot gold muted at $1,892.62 per ounce meanwhile gold futures slipped 0.3% to $1,921.95 per ounce.

Despite growing concerns about a Chinese economic slowdown, the yellow metal didn't see much demand as a safe haven, and speculators' positions in the dollar were mostly maintained by the potential of higher yields.

The minutes of the July meeting of the Federal Reserve revealed on Wednesday that the majority of those on the rate-setting committee favored higher interest rates to combat persistent inflation.

Even while they disagreed on the need for additional rate rises, policymakers continued to forecast increased upside risks to inflation, which could eventually lead to additional rate increases by the central bank. Inflation in the United States increased in July.