Gold prices holds stabled today

Gold prices stabled on Wednesday, with gains checked by an uptick in the U.S. dollar.

Gold stood at $1,746.60 per ounce, as of 0126 GMT, after increasing 0.7 percent in the previous session.

U.S. gold futures declined 0.2 percent to $1,758.20.

The dollar increased 0.2 percent against its rivals, making gold more expensive for buyers holding other currencies.

The U.S. central bank increased its benchmark overnight interest rate by 225 basis points in total since March to contain inflationary pressures.

SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings decreased 0.32 percent to 984.38 tons on Tuesday from 987.56 tons on Monday.