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By Bloomberg

Gold traded above a three-month low as investors assessed the impact of risks from China and Greece on the Federal Reserve’s plan to start raising interest rates. Silver and platinum declined.

Bullion for immediate delivery was at $1,157.79 an ounce at 12:25 p.m. in Singapore from $1,158.33 a day earlier, according to Bloomberg generic pricing. The metal fell to $1,147.36 on Wednesday, the lowest since March 18, before rebounding to end 0.3 percent higher after Fed minutes showed that while officials saw the economy improving, they also had concerns on Greece.

Gold slumped for the past four quarters on prospects for the first U.S. rate rise since 2006, which boosted the dollar. Central bank officials considering the timing of the increase are weighing a domestic economy that has shown improvement against deepening woes in China and Europe, where Greece may be expelled from the common currency. Investors will get further clues on the Fed’s outlook and its assessment of overseas risks when Chair Janet Yellen speaks on Friday.

“Global turbulence, lower commodity prices and the high U.S. dollar pose new risks,” Australia & New Zealand Banking Group Ltd. said in a note. “These factors are expected to add further caution by the” Federal Open Market Committee.

Officials in June forecast they would raise rates twice this year, signaling that September as the most likely month for liftoff, while lowering their outlook for subsequent increases. Higher borrowing costs and a stronger dollar curb gold’s appeal, which generally offers returns only through price gains.

Futures for delivery in August fell 0.6 percent to $1,156.70 an ounce on the Comex after climbing 1 percent on Wednesday. Bullion of 99.99 percent purity rose as much as 1.7 percent to 233 yuan a gram ($1,167.31 an ounce) on the Shanghai Gold Exchange, the most since April, and was at 231.48 yuan.

Silver for immediate delivery slid 0.2 percent to $15.1239 an ounce. The metal reached $14.6898 on Tuesday, the lowest level since Dec. 1. Platinum traded 0.8 percent lower at $1,024 an ounce after dropping on Wednesday to $1,010.26, a six-year low. Palladium rose 0.1 percent to $655.70 an ounce after dropping to a two-year low a day earlier.