Gold spot and future prices early Wednesday morning stand lower at 1,926 and 1,953, respectively.
Gold prices moved little in Asian trade on Wednesday, pressured by overnight strength in the dollar and Treasury yields as markets awaited more cues on U.S. monetary policy from several Federal Reserve officials this week.
While the yellow metal recovered sharply from five-month lows over the past two weeks, it has struggled to make headway in recent sessions due to pressure from renewed strength in the dollar and yields.
The greenback traded near a six-month high on Wednesday, while 10-year Treasury yields hovered close to their strongest levels in over 20 years.
U.S. rates are widely expected to remain higher for longer this year, diminishing the prospect of any major gains in gold as high rates push up the opportunity cost of investing in the yellow metal.
Lower chances of a U.S. recession this year have also weighed on gold, which usually benefits from a risk-off environment.
