Gold retreated 0.60% at the end of Thursday's trading ahead of the Good Friday holiday after enjoying a nearly $400 gain throughout the week due to uncertainty over US trade policy.
At 9.40am, gold prices were at $3,327.28, down 0.48% since it opened early Friday in Asian trading.
The market was mixed with two of the three major US indices posting gains and investors digesting Fed Chairman Jerome Powell's speech on Wednesday.
Jerome Powell's hawkish tone revealed that a weak economy and high inflation could make it difficult for the central bank to set its next monetary policy.
In his statement, he said his officials were facing a challenging scenario with economic tensions while considering the extent of the potential for such events to unfold.
Regarding trade talks, Trump said they were going well and added that he was very confident in the trade agreements with the European Union (EU) and China.
In terms of data, the European Central Bank (ECB) cut rates by 25 basis points earlier and the US economic docket revealed the US labor market remained strong.
