Gold held near $1,100 a troy ounce on Wednesday after hitting a record high in the previous session, while oil prices dipped and base metals edged lower as markets consolidated ahead of Friday’s significant US employment data.

Gold eased 0.3 per cent to to $1,089 a troy ounce, trading in a tight range after hitting a record $1,097.25 a troy ounce in the previous sessions after Sri Lanka bought a small volume of bullion to diversify its reserves.