Gold prices inched higher on Thursday as the dollar eased, while investors shifted their focus away from the U.S. Federal Reserve to other key central bank meetings.

Fundamentals

Spot gold was up 0.2% at $1,780.63 per ounce by 0135 GMT. U.S. gold futures rose 0.9% to $1,780.20.

The dollar index moved lower from a three-week high hit in the previous session.

The Fed said on Wednesday it would end its pandemic-era bond purchases in March and paved the way for three quarter-percentage-point interest rate hikes by the end of 2022.

The European Central Bank (ECB), the Bank of England (BOE), as well as the Swiss National Bank and Norges Bank, will hold policy meetings later on Thursday.

ECB officials are set to call time on the central bank’s Pandemic Emergency Purchase Program but investors will look to see how the six-year old Asset Purchase Program may pick up the slack, though rate rises are a way away.

Wall Street reversed earlier losses and climbed into positive territory after the Fed meeting.

Spot silver was flat at $22.05 an ounce.

Platinum shed 0.1% to $918.01 and palladium gained 1% to $1,613.61.