Gold traded higher on Wednesday as the US dollar fell further in the aftermath of President Trump´s first State of the Union speech.
The yellow metal was up 0.33% at 1224 GMT, trading around $1343 per ounce.
Gold has so far risen by around 3% for January, on course to notch up its third consecutive monthly gain.
Meanwhile, the dollar basket was down by about 0.2% on Wednesday, with President Trump´s State of the Union speech of the previous day giving investors little cause to reverse their recent bearish stance on the greenback.
Dollar weakness generally boosts the prices of commodities priced in dollars as it makes it cheaper for those buying them in other currencies.
However, traders believe gold will struggle to make further headway in the short term, having already retreated from a 1-1/2 year high of $1,366.07 an ounce reached last week.
Long positions in gold on the COMEX exchange also reached a four-month high last week, making technical analysts believe the yellow metal could be exposed to a pullback as bullish positions are unwound.
“Seasonality is starting to fade ahead of the Chinese New Year, so you should not expect too strong physical demand at this point," added Joni Teves, precious metals analyst at UBS.
Silver was 0.67% higher on Wednesday, at $17.4 per ounce as at 1238 GMT.