• Gold prices held firm on Wednesday near a one-month high hit in the prior session, as appetite for riskier assets eased ahead of a meeting between leaders of the United States and China.
Spot gold was steady around $1,255.12 per ounce by 0332 GMT.
• "This reflects the market's uncertainty about the trend of the gold price in the near term," said Jiang Shu, chief analyst at Shandong Gold Group.
"Whether the Federal Reserve would raise rates in June conference is not very certain. The market is waiting for more economic indicators from the U.S and speeches from Fed officials to assess the probability of rate hike in June."
"The markets are waiting for the conference between the most important leaders in the world ... If it does not turn out in a positive way, we might see a weak U.S. dollar and rising gold price," Shu said.
• Gold prices, however, have only risen nearly $60 since the rate hike in March as worries over U.S. President Donald Trump's polices and elections in Europe have increased the metal's safe-haven appeal.
• Spot gold may retest a resistance at $1,261.03 per ounce, as suggested by its wave pattern and a Fibonacci retracement analysis, Reuters technical analyst Wang Tao said.
• Spot silver fell 0.5 percent to $18.19 an ounce after touching one-month peak of $18.41 in the previous session.
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