Gold futures ended higher on Wednesday as the dollar slipped against a basket of major currencies ahead of a European Central Bank meeting on Thursday. Though, some gains were capped on reports that Republican senators favored John Taylor to become the next head of the US Federal Reserve, which drove US bond yields to multi-month highs.

Gold futures for December delivery gained $70 or 0.05 percent to settle at $1,279 an ounce on the Comex division of the New York Mercantile. While, spot gold was up 0.02 percent at $1,276.61 an ounce.

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