Gold fell on Friday, en route to snap a four-session streak of gains after Federal Reserve Chair Jerome Powell left the door open to more interest rate hikes.
Spot gold last fell 0.21% to $1,913.3643 per ounce. U.S. gold futures settled 0.4% lower at $1,939.90.
The dollar and benchmark 10-year Treasury yields ticked higher, denting non-yielding bullion's appeal.
This pressured gold as Powell looks to stay the course in holding rates higher for longer, remaining data-dependent, said Phillip Streible, chief market strategist at Blue Line Futures in Chicago.
Powell, in a speech at an economic summit in Jackson Hole, Wyoming, said policymakers would "proceed carefully as we decide whether to tighten further," but also made clear the central bank has not yet concluded that its benchmark interest rate is high enough to be sure inflation returns to the 2% target.
"Gold's reaction to Powell's signal that the Fed is on hold but vigilant is somewhat disappointing, suggesting demand at current levels may be limited," said Tai Wong, a New York-based independent metals trader.
"We are likely in a trading range, though a close under $1,900 could trigger some liquidation."
Momentum was also building among European Central Bank policymakers for a pause in rate hikes amid deteriorating growth prospects. ECB chief Christine Lagarde was also due to speak at Jackson Hole later in the day.
"If she (Lagarde) could lift the euro currency up, you might see some dollar weakness and that could boost gold," Streible said.
Silver rose 0.32% to $24.2115 per ounce, Palladium dropped 1.37% to $1,223.1674. Platinum gained 1.12% to $943.9819.