Gold climbed to $1,126.10 (+0.13%) after substantial declines on Wednesday, which were caused by recovery of stock markets. Doubts concerning a rate hike in September limited gold's fall.

Traders believe that there is a 25% chance of a rate increase next month. FOMC member Dudley said Wednesday that a rate increase in September seems to be less likely than a few weeks ago. Nevertheless Dudley said that he hopes that this event will take place this year.