Gold price traded higher ahead of the release of the Fed's April meeting minutes, which is scheduled to be released later in the day. Investors expect to find some signals when the Fed will start its interest rates, which have been near zero since December 2008.

Gold price sharply declined yesterday on the stronger U.S. dollar. The greenback rose as the U.S. housing market data was better than expected.

The Greek debt crisis supported gold price. Greece is running out of cash. Greek government's parliamentary speaker Nikos Filis said on Wednesday that Greece will not repay the €305 million IMF loans unless creditors unlocked bailout funds.

July futures for gold on the COMEX today rose to 1210.20 dollars per ounce.