Gold changed course to trade higher on Wednesday, but investors remained cautious because of weaker equities and fears about the global economy.
Gold drifted lower on Tuesday as the dollar broadly gained ahead of a U.S. Federal Reserve policy meeting and accompanying statement.
Gold slipped in afternoon trade in New York on Monday after hitting one-week highs on a weaker dollar, as oil prices plummeted and concerns about credit markets resurfaced.
Gold fell slightly on Monday but held near 10-week highs as the precious metals market took a breather from last week's rally, but a weakened dollar and more bullish sentiment limited losses.
Gold held steady on Monday below a five-week high, with investors keeping an eye on the dollar, which hovered near record lows against the euro, for short term direction.
Security concerns and a sharp drop in the dollar helped gold hit its highest level in nearly two weeks on Monday, but investors were expected to trade cautiously ahead of the U.S. Independence Day holiday.
Gold extended losses on Thursday to slip to its lowest in nearly a week as a firmer dollar and rising bond yields triggered more selling, traders said.
Gold retreated from earlier highs on Friday as bargain hunting subsided amid nervousness caused by this week's sell-off triggered by the strength of the dollar and rising U.S. Treasury yields.
Prices of oil, base metals and precious metals were slashed on Thursday afternoon as cross-asset profit-taking kicked in, traders said.
