Gold steadied after two days of losses on Wednesday but held below $1,300 an ounce, near a four-week low, on a stronger dollar and fears that the Federal Reserve could hike US interest rates sooner than expected. Spot gold had gained 0.3 percent to $1,297.94 an ounce by 0629 GMT, after losing 3.3 percent in the last two sessions - the metal's biggest two-day loss since October. Traders said gold could have further to fall, especially as this week's $40 drop has failed to generate a robust pick-up in physical demand in Asia.