Gold futures inched lower as rising stocks dented the safe haven appeal of the precious metal.
The DJIA was up 180 points as gold settled higher by $2.70, or 0.2%, at $1,355.30/oz.
Gold surged yesterday to its highest in three weeks, but expectations that the Federal Reserve will soon raise interest rates also put a lid on the rally.
The Labor Department said its producer price index for final demand climbed by 0.4 percent in January after coming in unchanged in December.
Excluding food and energy prices, core producer prices also increased by 0.4 percent in January. Core prices had been expected to edge up by 0.2 percent.