The start of trading earlier in the week saw the yellow metal gold trade steady after the biggest weekly fall since June recorded last week.
In the Asian session, spot gold traded at $ 1,927 per ounce, with gold futures slightly changed at $ 1,925 per ounce.
The yellow metal suffered its worst decline in the past week as the decision to raise interest rates by major central banks has reduced demand for gold.
The Federal Reserve (Fed) has raised its interest rates for the first time since 2018, with a 25 basis point increase to 0.50% besides also signaling to act more aggressively this year.
In addition, investors were also wary of mixed statements on negotiations between Russia and Ukraine.
Turkey says Moscow and Kiev are close to reaching an agreement on important matters, while a key Ukrainian aide says Russia has shifted to the use of more destructive weapons.
Meanwhile, Ukraine rejected Russia's request to hand over the southern port city of Mariupol which had been attacked. This to some extent helps restrain gold from falling more severely.
Investors ’focus is now on Fed Chairman Jerome Powell who will speak at the annual meeting of the National Association for the Business Economy on Monday.
