Gold prices continued to retreat lower as the US dollar gathered strength to rise ahead of Federal Reserve (Fed) Chairman Jerome Powell's statement.
Earlier in the New York session, the yellow metal dipped below the $1,930 level before rising slightly to trade steady around $1,937 per ounce in the Asian session.
The US dollar returned to showing some strengthening in the previous session after the US housing data was not expected to show a stronger reading.
Although it is not a high-impact data, but the greenback reacted to the data and was also supported by gloomy market sentiment after China's central bank lowered its interest rates.
Investors are now awaiting Fed Chairman Jerome Powell's testimony on his semi-annual monetary policy report before the House Financial Services Committee.
Any further statements or indications of policy may affect gold trading.
