Preoccupations about the well-being of the 17-nation euro zone are causing concerns about the global economy. Spain, defying widespread market expectations, has not solicited international bailout aid as the sovereign debt crisis pushes toward a third year of attacking euro zone nations' banks, markets and public finance systems.
"With euro policy makers back to jawboning, not acting, and without a major central-bank decision until the [U.S. Federal Reserve] on Oct. 24, gold is looking listless at present," research head Adrian Ash with BullionVault told the news source. "It has already been stuck in a $40 range for almost four weeks now."
At 4:30 p.m. on Wednesday, gold futures edged down 0.02 percent, a 40 cent slip to $1,764.60 per troy ounce.
The Associated Press reports vice president George Gero with RBC Global Futures said reduced interest rates, Syria and Turkey feuding and the sovereign debt crisis all are factors that make a bullion sell-off unlikely.