Kendall was cautious about a potential reversal in gold, which has gained nearly 10 percent since mid-December.
"When the Trump tweets turn away from immigration and towards domestic policies designed to stimulate U.S. growth, then...I would expect at that point this gold rally to unwind."
The prospects of further U.S. interest rate hikes was also a concern for gold, said Mark To, head of research at Hong Kong's Wing Fung Financial Group.
But gold has recently appreciated as an asset whether in euros, yen pounds or dollars, said Matt France, head of institutional metals sales in Asia for broker Marex Spectron.
"This is a genuine re-allocation into gold as a safe haven trade not just a reactive trade to U.S. dollar moves," he said in a note.
Among other precious metals, silver was down 0.11 percent at $17.71. Earlier, silver traded at $17.76, its strongest since Nov. 11.
Platinum fell 0.86 percent to $1,002.50, after hitting its highest since Nov. 9 at $1,015.20 earlier in the day.
"Short term, a pause can't be ruled out and a consolidation lower towards an ascending trend near $990/985 is likely," Societe Generale Head of Technical Analysis Stephanie Aymes said in a note.
"A move beyond $1,021 will be needed for extending the rebound."
Palladium shed 1.49 percent to $760.47.