Spot gold rose slightly on Wednesday after falling 2 percent in the previous session, as a key technical level offered support to prices that remained under pressure from a firm dollar. The most-active US gold futures contract tumbled as much as 2.3 percent to $1,625.3 an ounce earlier in the day, before recovering to $1,640.90 by 0647 GMT.
Spot gold rose 0.4 percent to $1,637.80, after sliding 2 percent in the previous session and hitting $1,622.14, its lowest since October 21. The US gold contract settled at $1,663.10 on Tuesday, more than $30 higher than the closing price of spot gold.