Gold was up on Thursday morning in Asia, after tumbling to a seven-week trough during the previous session, but rising U.S. Treasury yields continued to apply pressure.
The dollar hovered near a one-year high versus major peers on Thursday, following a two-day surge amid expectations for a tapering of Federal Reserve stimulus from November and a possible interest rate hike in late 2022.
Oil prices fell on Thursday, extending losses after official figures showed an unexpected rise in inventories in the United States although prices seem to have stabilised following a recent run of gains.
The S&P 500 eked out a gain Wednesday, after coming under pressure into the close amid ongoing concerns about the recovery and a potential government shutdown stifled upside momentum.
Asia Pacific stocks were mixed on Thursday morning, with China releasing mixed economic data and investors assessed the challenges ahead as the third quarter draws to a close.
Oil fell after a report pointed to a build in stockpiles and investors backed away from risk assets on concern the U.S. may default.