The world's largest gold-backed exchange-traded fund, SPDR Gold Trust , said its holdings were at 1296.53 tonnes on Wednesday from 1296.91 tonnes on Tuesday.

On Monday, SPDR Gold Trust registered its biggest one-day gain in more than a year, rising 1.8 percent, as investors flocked to seek refuge in bullion amid economic concerns triggered by a debt downgrade of the United States.

A day later, its holdings dropped 1 percent.