Gold moved a bit lower than the all-time high touched in the earlier session, amid the robust of the greenback and treasury yields following solid US figures that raised doubts on the possibility of Fed taking the decision for three rates cut in 2024.

Spot gold advanced by 0.2% at $2,253.94 per ounce, firming close to a record peak of $2,265.49 touched on Monday, while US gold futures added 0.8% to $2,274.60.

The dollar reached a 4-1/2-month peak, restricting bullion's gains, while benchmark 10-year Treasury rates were trading close to two-week highs following data indicating that U.S. manufacturing expanded in March for the first time in one and a half years.

As a result of the data, traders reduced their bets on a June interest rate trim to 59%, according to the CME Group's FedWatch Tool.

Because owning bullion has less opportunity cost when interest rates are lowered, gold typically benefits.