Investing.com - Gold prices held steady in Asia early Wednesday with investors on the sidelines awaiting new demand cues.
On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,163.70 a troy ounce, down 0.03%, after hitting an overnight session low of $1,145.60 and off a high of $1,165.70.
Overnight, gold prices moved higher on Tuesday on a double shot of rising physical demand and a weaker dollar.
Gold prices rose despite ongoing expectations that the Federal Reserve remains on track to begin hiking interest rates in 2015, which have supported the U.S. dollar.
The dollar firmed on the news albeit in a delayed manner but by Tuesday, profit taking softened the greenback, which gave gold room to make modest gains.
Elsewhere, physical demand for the precious metal is picking up in Europe and Asia, which gave gold prices added support on Tuesday.
Silver for December delivery fell 0.06% at $15.703 a troy ounce. Copper futures for December delivery eased 0.01% at $3.036 a pound.