On Wednesday, gold prices slumped in response to an overnight surge in Treasury yields and as regulators further played down concerns about a pervasive U.S. banking crisis.

Although investors have been increasing their long bets on bullion prices recently due to worries that the recent failure of many U.S. banks could have long-term effects on the economy, the yellow metal has remained relatively well bid.

Spot gold sagged by 0.2% to $1,969.01 per ounce, while gold futures slipped by0.2% to $1,987.00 per ounce.

The two instruments made another attempt to reach the $2,000 mark prior the session ended below significant highs.

While markets braced themselves for additional economic cues from key importer China this week, copper prices among industrial metals remained rangebound.

Copper futures slumped by 0.1% to $4.0743 per pound and have only moved by less than 0.1% all week.