Spot gold rebounded Wednesday in Singapore trading by as much as 0.8 percent from a sharp slide off the record high in the previous session.

Traders said the metal's appeal remained undimmed to investors keen to seek safety during a period of heightened worry about the euro zone's debt crisis.

Spot gold traded up 0.6 percent to $1,874.89 an ounce by 0033 GMT, easing from an intra-day high of $1,879.69. It hit a record high of $1,920.30 then slid as much as $60 in the previous session.

U.S. gold gained 0.3 percent to $1,877.90, off the all-time high of $1,923.7 struck on Tuesday.

Gold tumbled on Tuesday after the Swiss National Bank shocked the market by setting an exchange rate cap on the soaring franc, discouraging investors to use the currency as a safe haven.

The strong rebound in gold showed that appetite for the precious metal has hardly been dented, as investors anxious about euro zone's fiscal health are appear to take advantage of the price dip to build up positions.

The dominant U.S. services sector picked up steam unexpectedly last month, snapping a three-month streak of slower growth, though a slower pace of hiring underscored concerns about the broader job market.

Holdings in the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, have not changed since Aug. 30, at 1,232.314 tonnes.