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Gold edged higher through the early European session on Wednesday

 

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and climbed to fresh daily tops, around the $1666-67 region in the last hour.

A combination of supporting factors assisted the precious metal to regain some positive traction on Wednesday and recover a part of the previous session's negative move, led by resurgent US dollar demand and a strong recovery in the global risk sentiment.

The greenback made a solid comeback on Tuesday amid hopes of fiscal stimulus by the Trump administration. The market reacted positively to the news and was evident from a bullish mood across the global equity markets, which exerted some pressure on the commodity.

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