Gold plunged on Tuesday as market participants booked profits amid falling US Treasury yields.
The USD also extended its losses as investors grew increasingly concerned about President Donald Trump's trade policy changes.
At 9.30am, gold was at $2,926.55, up 0.38% since it opened in early Asian trading on Wednesday.
Uncertainty about President Trump's imposition of tariffs as a negotiating tool has traders avoiding taking risks.
On Monday, Trump signaled that tariffs on Mexican and Canadian imports would begin next week despite efforts by both countries to combat the flow of fentanyl and illegal immigration.
In terms of data, the Conference Board (CB) revealed that the consumer confidence survey deteriorated further in February. The report reflects the pessimism of Americans due to the controversial policies of the Trump administration.
In addition, last week's University of Michigan (UoM) Consumer Sentiment report and data raised concerns about a slowing economy in the United States.
This week, the US economic docket will feature speeches by Federal Reserve (Fed) officials, Durable Goods Orders, the second reading of Q4 GDP and the release of the Fed's preferred inflation gauge, the Core Personal Consumption Expenditures (PCE) Price Index.
