In early trading, gold in Asia fell slightly due to the possibility of a technical correction.

Gold edged lower in Asian early trading, possibly experiencing a technical pullback, after gold futures for the nearest months recorded the largest percentage gain since March 2009 on Tuesday. Spot gold fell by 0.1% to $4,941.38 per ounce. "In the short term, as the market continues to adjust positions, volatility may remain high," said Ewa Manthey of Holland International Group in a research report. The commodity strategist added, "Without major changes in macroeconomic fundamentals, we expect recent selling to be corrective rather than structural." Manthey also noted, "However, the speed and sustainability of any further recovery will depend on the development of the US dollar, interest rate expectations, and overall risk appetite."