Spot gold edged 0.2 percent higher to $1,141.45 an ounce by 0324 GMT. Bullion rose to a near two-week high of $1,148.98 on Tuesday.

U.S. gold futures were up 0.3 percent at $1,142.40 per ounce. 

"Currently we do not see many strong fundamental reasons to push gold prices further down. However, after the Fed conference in December, there should be some technical rebound in gold prices," said Jiang Shu, chief analyst, Shandong Gold Group. 

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Reflecting bearish investor sentiment, assets in the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund fell 0.14 percent to 823.36 tonnes on Tuesday. Holdings are down over 13 % since the U.S. presidential elections. 

U.S. consumer confidence shot to its highest in more than 15 years in December as Americans saw more strength ahead in business conditions, stock prices and the job market following the election of Donald Trump as president in November.