Spot gold was down 0.15 percent at $1,226.17 an ounce at 3:12 P.M. EDT, while U.S. gold futures for December delivery up 0.13 percent an ounce at $1,226.60.
Major banks and investors have begun to debate the possibility of another move towards parity between the dollar and the euro, as the U.S. currency benefited from expectations of an inflationary push from the future Trump administration.
"The most important thing that we saw for gold (after the election) was that the dollar appreciated," LBBW analyst Thorsten Proettel said. "It's the old game -- when the dollar is appreciating, the gold price is weaker, because gold is an alternative currency."
"Also, yields on 10-year Treasuries went up 50 basis points, which is poison for gold, as a non-interest bearing asset," he added.
Investors resumed post-U.S. election selling of bonds and buying stocks on Wednesday after a pause earlier this week, albeit less aggressively.
Gold is also expected to be feeling the pressure from an imminent hike in U.S. interest rates, which are tipped to rise for only the second time in nearly a decade next month.
It would need a surprise for the Federal Reserve not to raise U.S. interest rates in December, one of the central bank's policymakers, James Bullard, told reporters at a banking conference on Wednesday.