Gold continued its limited losses for a third straight day below $3,000 as rising US Treasury yields made the metal less attractive.
At 9.15am, gold was at $2,977.36, down 0.08% since it opened early Wednesday in Asian trading.
Stock market sentiment was broad-based, with Wall Street recording significant losses after a short rally on Monday and continuing the trend of volatility.
Most recently, the White House's announcement of maintaining 104% tariffs on China triggered a spike in the Volatility Index (VIX) which resulted in the S&P 500, Dow Jones and Nasdaq erasing gains.
Meanwhile, Fed officials were in the market's sights with San Francisco Fed President Mary Daly saying she was concerned about rising inflation due to tariffs and Chicago Fed President Austan Goolsbee believing tariffs could drag inflation higher than expected.
In addition, investors will be looking forward to the release of the Fed's FOMC meeting minutes and consumer inflation (CPI) and producer inflation (PPI) reports on Thursday.
