Gold held its gains from the previous day to hover above $US925 on Wednesday, as firm stocks continued to provide support.
Bullion has recently lost some of its attraction to risk-averse investors seeking an inflation hedge, causing the metal to lose nearly $US20 last week, hitting a two-month low.
"I think gold is currently comfortable around the $US920 level," said Kazuhiko Saito, an analyst at Tokyo's Fujitomi.
He added that the metal was unlikely to move much higher during Asian business hours barring fresh news.
Gold was at $US925.80 ounce in Asian trade, up 0.1 per cent compared to New York's notional close of $US924.60.
US gold futures for August delivery were at $US925.90 per ounce, up 0.3 per cent from Tuesday's settlement.
Japan's Nikkei average rose 0.5 per cent on Wednesday, after upbeat results from Goldman Sachs and Intel lifted hopes of a recovery for the global economy and helped weaken the yen.
The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust, said holdings fell to 1094.54 tonnes as of July 14, declining for the first time in about a week.
Holdings were down 15.27 tonnes, or 1.4 per cent.
Darren Heathcote, head of trading at Investec Australia, said the dip was a reflection of the weak sentiment in last week's market when bullion slipped to around $US905.
"So it was not surprising to see some investor interest being unwound," he said.
He added, however, that he would not read too much into the decline.
"I wouldn't consider it a change to the overall picture, the overall trend, which I think is still relatively positive for gold," Heathcote said.
In contrast, the world's largest silver-backed exchange-traded fund, the iShares Silver Trust, said its silver holdings rose 0.5 per cent to hit a record.
The New York-based trust said it added 42.07 tonnes, to reach an all-time high of 8,766.93 tonnes as of July 14.
In industry-related news, workers in South Africa's gold sector rejected the latest offer for a pay rise of between 8 per cent and 10 per cent, the National Union of Mineworkers said on Tuesday.
The union said that a strike in the gold sector was "highly likely" after the rejection.
