This week gold prices have been on a see-saw ride, firstly dipping to a four-week low and then edging up slightly. The prices took a dip following an expectation of US Federal Reserve Chair Janet Yellen announcing a rate hike, as per reports. Yellen would be addressing a meeting at 1400 GMT for the same.

After falling to a 4-week low of $1,317.46 on Thursday, spot gold rose 0.4 percent at $1,326.90 an ounce, reports say.

Market views state that if the announcement of rate hike is kept at a neutral stand, gold prices could be at a low level, as per reports.