​Gold traded lower on Wednesday, as selling pressure persisted, with investors remaining cautious ahead of a series of U.S. economic reports due later in the day.
Spot gold (XAU/USD) fell about 0.67% to $3,981.12 an ounce.
The metal opened at $4,007.82 and dropped to an intraday low of $3,960.25 before trimming part of its losses, allowing prices to move back above the $3,980 level.
Recent sessions have been marked by profit-taking following gold’s strong rally earlier this year.
The metal has declined 0.56% over the past week and is down 11.30% over the last month.
Despite that pullback, gold remains more than 19.14% higher than it was a year ago.
Attention now turns to U.S. economic data that could shape expectations for the Federal Reserve’s policy path.
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