Gold prices steadied early on Thursday, with the dollar firming as markets waited for clues on the future of key stimulus programmes in upcoming Bank of Japan and European Central Bank meetings.

FUNDAMENTALS

* Spot gold was nearly unchanged at $1,240.07 per ounce at 0053 GMT.

* U.S. gold futures for August delivery fell 0.19 percent to $1,239.60 per ounce.

* U.S. home building surged to a four-month high in June, but construction activity remains constrained by rising lumber prices and labour and land shortages.

* Holdings at the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund fell 0.65 percent to 816.13 tonnes on Wednesday from 821.45 tonnes on Tuesday.

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