Gold is still holding high after reaching a new high of $2,740 at the opening of the week and it is back lower on higher US Treasuries and a stronger US dollar.
Tensions in the Middle East and uncertainty surrounding the presidential election in the United States (US) increased the flow towards safe-haven assets over the past five trading days.
At 9.25am, the price of gold was at $2,727.02, up 0.26% since it opened in early trading in the Asian session on Tuesday.
Market sentiment turned negative amid a close race in the US election. Reuters revealed that Vice President Kamala Harris leads former President Donald Trump 45% to 42% in the popular vote.
However, the winner will be determined by state results by the Electoral College.
Additionally, the conflict in the Middle East continued as Israel revealed that a shell from Lebanon hit a clearing in central Israel.
Iran's envoy to the United Nations said that Biden's statement in Berlin about Israel's plan to attack the country was incitement.
Meanwhile, Dallas Fed President Lorie Logan said they need to be nimble with monetary policy to add to the main target of gradually lowering borrowing costs.
Minneapolis Fed President Neel Kashkari has echoed Logan's comments, saying he sees moderate cuts next quarter while adding that evidence of weakness in the labor market could trigger faster rate cuts.
Even so, the Fed is expected to cut interest rates by 25 basis points at its November meeting with the odds remaining at 87%.
