Gold prices edged back above a six-week low on Wednesday and markets remained cautious ahead of the Federal Reserve's February meeting minutes, while some other better US economic data supported the dollar.

Gold prices traded in a tight range for the week amid renewed concerns over a more hawkish move by the Fed, especially after higher-than-expected inflation figures for January. That, coupled with signs of resilience in the US economy, provided enough wiggle room for the Fed to continue raising interest rates.

Spot gold was flat at $1,835.83/oz, and gold futures rose 0.1% to $1,844.70/oz at 07:13 GMT. The Fed minutes, which will be released in the early hours of today, are expected to reiterate the bank's hawkish rhetoric.

This week's focus is also on Thursday's Personal Consumption Expenditures price index figure, which is the Fed's preferred inflation gauge. The index is expected to remain relatively high in January.

Rising interest rates are a bad signal for non-yielding assets such as gold and other precious metals, as they raise the dollar and Treasury yields and increase the opportunity cost of buying gold.

US PMI data also showed stronger than expected growth for February, data showed on Tuesday. Any signs of resilience in the US economy give the Fed more room to continue raising interest rates, which the bank has signaled it will do in the near future.

But concerns over the US slowdown ultimately persisted, mainly because other data showed on Tuesday that the housing market was under pressure.

Technically Gold is currently still moving sideways in the 1,818 - 1,847 area, even now Gold still has the potential to strengthen towards its nearest resistance target in the 1,847 area.