Gold inched down on Wednesday to slip below $950 as firm stock markets continued to dull some of bullion's sheen, although traders kept a cautious eye on the fate of General Motors Corp, for its impact on equities.
Bullion was trading largely within Wednesday's ranges, when a stronger dollar and a rally on Wall Street -- which both benefited from a jump in U.S. consumer confidence -- spurred selling of gold.
Gold was at $947.60 an ounce by 0242 GMT, down 0.4 percent from New York's notional close of $951.25.
U.S. gold futures for June delivery were at $948.6 per ounce, down 0.5 percent from its settlement.
North Korea appeared to have fired a third short-range missile late on Tuesday, the South's Yonhap news agency reported quoting an unnamed government source.
The news, which came on the heels of the launch of two other missiles on Tuesday, failed to support gold despite the precious metal's traditional appeal in times of geopolitical tension.
"I think many see this as having limited regional impact, and it hasn't affected gold," said Shuji Sugata, a manager at Mitsubishi Corp Futures & Securities.
He said that much of gold's recent moves could also be attributed to end-month position adjustments.
