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Gold Down in Thin Post-Holiday Trading; Fed Awaited by www.expertcommodity.com

Gold is continuing its delicate dance in the $1,200 territory as an immediate lack of major directional events, barring next week's Fed diary, keeps bullion fans within their comfort zone.

A stronger dollar post-Thanksgiving led to light selling pressure in the yellow metal, with many traders still away from their desks during the abbreviated session after Thursday's break.

The dollar index, a contrarian bet to gold, was up 0.2%.

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"We have a short week, a short day today and more shorts in the market," said George Gero, precious metals analyst at RBC Wealth Management in New York. "But we have (Fed Chief Jerome) Powell next week, and that could provide some big direction for gold."

Powell is due to speak on Wednesday about "The Federal Reserve's Framework for Monitoring Financial Stability" at the New York Economic Club. The central bank will also be issuing minutes of its Nov. 7-8 meeting later that day.