Gold prices on Wednesday held near 4-1/2-month lows touched in the previous session as economic data from China tempered concerns about global growth, boosting riskier assets.
Spot gold was mostly steady at $1,275.96 per ounce as of 0955 GMT, having fallen as much as 1.2 percent to $1,272.70, its lowest since Dec. 27, on Tuesday. U.S. gold futures were up 0.1 percent at $1,278.30 an ounce.
"Investors are betting on the recovery of markets and that's mostly what's pulling gold down. The main market driver is moving from central banks to what is happening in the stock markets," said Carlo Alberto De Casa, chief analyst with ActivTrades.
Data showed China's economic growth in the first quarter remained steady at 6.4 percent, beating expectations for a 6.3 percent expansion.
World stocks inched higher after a raft of Chinese data signalled Beijing's recent stimulus drive might be paying off.
Gold prices have fallen more than 5 percent since touching a 10-month peak in February.
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