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Gold dipped for a second straight session on Wednesday, as global equities and the dollar rose following strong U.S. manufacturing data that rekindled speculation of a Federal Reserve interest rate hike this year.

Other safe-haven assets also fell, with the Japanese yen nursing broad losses, having suffered a big reversal overnight as traders in London and New York took a brighter view on the global economy.

"The selling (in gold) will likely continue going into Wednesday's session, especially if we see another round of strong buying set in over global equity markets," said INTL FCStone analyst Edward Meir.

"All this goes to show us that gold still remains very much in the orbit of U.S. equities and we suspect that this will remain the case for some time to come," he said.

According to ETF.com, in first 2 months of this year, ETF fund that have the most inflow is SPDR Gold Fund that have money inflow more than 4.9 billion USD. On the other hand, ETF fund that have the most outflow is SPDR S&P 500 Fund that have money outflow more than 3.7 billion USD.