Gold prices showed modest positive momentum as the US dollar remained cautious and risk appetite weakened amid concerns about a US economic slowdown.
At 9 am, gold was at $4,069, up 0.05% since it opened early Wednesday in Asian trading.
Economic data releases began with initial jobless claims for the week ended October 18 rising to 232,000. Factory orders for August rose slightly more than expected.
However, the data had little impact on bullion traders, who continued to push gold prices above $4,050.
The data prompted investors to price in the possibility of additional easing by the Federal Reserve (Fed) at its December meeting, although most officials remained hawkish.
Next, the Federal Open Market Committee (FOMC) Minutes are expected to provide a glimpse into the extent of divergence in views among central bankers on the next policy decision.
The US data docket will feature the Nonfarm Payrolls report on Thursday, which is now the main focus of investors.
In addition, Goldman Sachs revealed that China's central bank is continuing its gold purchases. They commented that China may resume its purchases in November, a sign that the yellow metal could rally in the short term.
