Bullion edged up in thin trade on Wednesday, with sentiment supported by high oil prices, lingering worries about the severity of the European debt crisis and a shortage of gold bars in Asia. Spot gold rose $4.50 an ounce to $1,384.95 an ounce by 0650 GMT.
Despite safe haven buying related to the crisis in the eurozone, bullion was well below a historical high of around $1,430 struck in December. The world's largest gold-backed exchange-traded fund, SPDR Gold Trust, said its holdings slipped to 1,271.467 tonnes by January 11 from 1,272.682 tonnes on January 10.