Gold steadied in Asia after closing at a three-month low as a flurry of data showed a surprisingly strong US economy, giving the Federal Reserve more scope to keep raising rates. 

Investors reassessed the health of the US economy, after consumer confidence came in at the highest since the beginning of 2022 and purchases of new homes jumped to the fastest annual rate in more than a year. Treasury yields rose following the data, a negative for bullion, which doesn't offer interest.

The likelihood of more tightening in the US and elsewhere will put more pressure on the precious metal, which is down around 7% from a peak in early May. However, there's still some concern that a hawkish Fed will push the world's largest economy into recession, which would offer support for gold. 

Spot gold added 0.1% to $1,915.57 an ounce as of 8:36 a.m. in Singapore after falling 0.5% on Tuesday. The Bloomberg Dollar Spot Index was steady, after declining 0.2% in the previous session. Silver and palladium edged higher, while platinum declined.

Source : Bloomberg