Gold is currently at $1,076.20 (+0.08%) amid a softer dollar. Nevertheless investors are preparing for the looming Federal Open Markets Committee meeting on December 15-16. The central bank of the U.S. is widely expected to raise rates at this meeting. Higher rates increase the opportunity cost of holding the non-interest paying precious metal and reduce demand for it. That's why bullion's gains are limited

Generally weak commodity prices, particularly crude oil, weigh on gold as well.