The precious metal remained under pressure weighed down by a strengthening US dollar following cautious signals from the Federal Reserve (Fed) on expectations of further policy easing.
At 9.20 am, gold prices were at $3,943, up slightly by 0.29% since it opened in early trading on Wednesday in the Asian session.
Bullion was seen as well-positioned following a price correction after hitting a record high of $4,381 reached on October 20.
A pullback in global equities helped limit gold losses, as softer risk appetite offered some support.
However, price gains remained limited amid reduced safe-haven flows and fading expectations for another Fed rate cut this year.
Nevertheless, the broader uptrend remained intact as ongoing geopolitical and economic uncertainties kept investors on guard. At the same time, the prolonged US government shutdown continued to weigh on market sentiment.
Globally, central banks officially added a net 39 tonnes of gold to their holdings in September. That was up 79 per cent month-on-month and above the 12-month average of 27 tonnes.
September’s gains pushed official third-quarter central bank gold purchases to 220 tonnes. That was up 28 per cent on the second quarter and 6 per cent above the five-year third-quarter average.
