Gold prices were up slightly over 1% throughout Wednesday's trading session despite a slew of US economic data releases providing bullish momentum for the US dollar.
At 9.10 am, gold prices were at $3,968, down 0.28% since it opened early Thursday in Asian trading.
The US Dollar Index (DXY), which tracks the currency's performance against a basket of six major currencies, rose 0.07% to 100.22.
Recently, the October ISM Services data grew as expected and subcomponent information showed that inflation was picking up.
Ahead of the data, ADP revealed that private companies hired more workers than expected, indicating that the jobs market remains strong.
On expectations for the next interest rate, Fed officials were divided, with Governor Stephen Miran saying the ADP data release indicated that rates should be cut further.
Meanwhile, Chicago Fed Austan Goolsbee said inflationary pressures remained persistent and Governor Lisa Cook said the labor market was showing signs of weakness.
Markets are now focused on the US Supreme Court's scheduled hearing on the validity of President Donald Trump's tariffs, after a lower court ruled the administration had overstepped its authority by imposing the levies under emergency laws.
