Gold fell further to a new three-month low before returning to steady trading in Thursday's Asian session.
In the Asian session, the yellow metal traded little changed at around $1,933 per ounce, while gold futures traded at $1,943 per ounce.
The price of gold has shrunk to a low in the New York session, which is before Federal Reserve (Fed) Chairman Jerome Powell testifies before the United States Congress.
The yellow metal however returned to erase losses after Powell's speech failed to stimulate the rise of the US dollar.
In his testimony, the head of the US central bank continued to reiterate the Fed's position to fight inflation and that some further increases in interest rates are needed.
Powell will make another appearance before the Senate Banking Committee tonight but he is not expected to offer any new statements.
The price of gold is seen to continue to test the critical level of $1,930 which has still failed to break through these past few weeks.
