Gold investors faced a thrilling situation in the previous session after being presented with the yellow metal's erratic movement.
Starting the New York session, the price of gold soared as high as $1,970 per ounce before returning to worship the earth below the level of $1,940 per ounce.
Today's Asian session saw the precious metal stabilize again to trade around $1,945 per ounce.
The move in gold prices was driven by the 10-year US treasury yield which firmed again at its highest level since late May at 3.79%.
This follows a jump in global government bond yields following another surprise interest rate hike by the Bank of Canada (BOC) after the Reserve Bank of Australia (RBA).
Although it does not directly impact the expected decision of the Federal Reserve (Fed), but investors also do not rule out the possibility that the central bank will follow suit.
Investors are now looking forward to the FOMC policy meeting and the release of US inflation data next week.
