The yellow metal market extended its highs in creating a new 'ATH' for five consecutive days near $2,750 due to geopolitical conflict sentiment and expectations of the Fed's next policy easing.
The market jitters ignored the rise in US Treasury yields since the Fed's aggressive 50 basis point cut during its September meeting.
At 9.15am, the price of gold was at $2,745.36, down 0.13% since it opened in early trading in the Asian session on Wednesday.
Meanwhile, Donald Trump's popularity gauge in the November presidential election is at alarming levels and puts market risks towards gold prices. It stems from the latest administration imposing tariffs and restricting illegal immigration more seriously.
San Francisco Fed President Mary Daly said she supports further easing but sees no significant indication the Fed will cut interest rates at its next meeting.
Additionally, Kansas Fed President Jeffrey Schmid took a more cautious stance stating his preference to avoid too large a rate cut and noted that the labor market is normalizing rather than in a recession.
However, tensions in the Middle East remain high as Israel prepares to retaliate against Iran following a 200-missile raid.
The Fed is expected to cut interest rates by 25 basis points at its November meeting.
