On Wednesday gold prices dropped to a five-and-a-half-year low, as market players awaited minutes from the Federal Reserve's latest
policy meeting later in the day.
Comex gold for December delivery last traded at $1,070.30, up 0.15%.
Earlier in the day, gold fell to $1,062.00 a troy ounce, a level not seen since February
2010.
On Tuesday, gold gave up 1.38%, after economic reports from the U.S. supported hopes for a December rate increase.
Investors will now be looking ahead to the minutes of the October Federal Reserve meeting, due on Wednesday at 2:00PM ET.
The Fed left interest rates unchanged following its meeting last month, as widely expected, but surprised the market with a hawkish statement, which included a direct reference to its next policy meeting.
Gold futures are nearly 10% lower from highs hit in mid-October as investors re-assessed their expectations of U.S. monetary policy in response to hawkish talks from the Fed.
Higher borrowing costs are considered bearish for gold, as the precious metal struggles to compete with yield-bearing assets.
The U.S. dollar declined slightly on Wednesday, however, remained near seven-year highs with EUR/USD last trading at 1.0680, up 0.35%.
Dollar-priced commodities become more expensive for those holding other currencies when the greenback gains.
Elsewhere in the metals trading, Comex silver for December delivery was 0.2% higher, at $14.200 an ounce.
Platinum for January delivery lost 0.18% to trade at $853.70, while December palladium added 0.39% to $548.63.
