Gold struggled to maintain its daily profit by trading horizontally around the $ 1,920 per ounce level at the start of the European session.
Gold prices have recorded a drastic decline of around 2.5% after rising to a high since November 9 at $ 1,959 per ounce on Wednesday following a 10-year increase in U.S. treasury yields.
The victory of the Democrats in the Senate election in Georgia has further strengthened market expectations for more stimulus measures to be implemented by the US.
However, it failed to influence the yellow metal trade to rise higher.
This is because, expectations of larger government loans have pushed the 10-year US treasury yield benchmark to jump above the 1% level for the first time since March 2020.
This increase has helped support the greenback dollar trading to rise from the nearly 3-year low recorded on Wednesday, causing the hold on gold to be released.
Meanwhile, a riot of violence by supporters of President Donald Trump at Capitol Hill, where MPs convened to confirm Joe Biden's victory in the 2020 election was also seen as failing to influence gold safe-haven trading.
