Gold prices approaching four-month high Earlier European Central Bank hawkish to

Gold prices approached the four-month high touched the previous day on Thursday after the minutes of the ECB's meeting showed the tone of the bank's policy was more radical, boosting the euro's rise against the dollar.

The minutes of the December meeting said that the ECB should reconsider its policy guidelines in early 2018 and gradually adjust the wording to reflect the improvement in growth prospects.

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"The ECB's December meeting shows the hawkish tone and the euro is up against the dollar," said John Lawrence, senior trader at Heraeus Precious Metals.

The shift in ECB policy guidelines may be interpreted by investors as policymakers may begin to pull signals from the 2.55 trillion euros debt-seeking program.