Gold traded mixed as market participants are awaiting the Fed's monetary policy meeting next week. Market participants speculate that the Fed will start raising its interest rate this month.

Gold is traded in U.S. dollars. It suffers when the U.S. dollar strengthens, becoming more expensive for holders of other currencies.

Physical demand for gold fell in India, but remained strong in China ahead of the Chinese New Year.

February futures for gold on the COMEX today traded at 1072.20 dollars per ounce.