Spot gold was quoted at $470.20/470.90 a troy ounce by 1510 GMT, compared with $473.50/474.30 in New York.
Traders said stronger than consensus US economic growth in the third quarter attracted selling as dollar-priced gold became relatively more expensive.
The US economy grew at an annualised rate of 3.8 percent in the third quarter, exceeding market expectations for growth of 3.6 percent.
Gold dipped briefly below $470 to a low of $469.10, before stabilising.
"It has held pretty well, with buyers stepping into the dips," one trader said.
Although many traders and analysts are looking for the precious metal to target near-18-year highs just above $480 again, so far it has faced stiff resistance at $475.
Some felt a close above $470 would be a base for gold to build on next week.
"The main obstacle for further near term gains in the gold price is expected to be the record amount of speculative length," Deutsche Bank said in a weekly commodities report.
It nevertheless maintained its bullish outlook for gold further out and expected resumed dollar weakness to push prices to $500 and beyond.
In other precious metals, silver was quoted at $7.70/7.73 versus $7.79/7.82 an ounce late in New York.
"Despite the scale of speculative longs overhanging the market, I still think silver has the potential to break higher with a breach of the $7.90 level finding little in the way of chart resistance till $8.12-$8.15," TheBulliondesk.com said in a daily report.
Palladium slipped to $222/226 from $224/227, having risen to a one-year peak of $227 on Thursday.
Spot platinum was at $938/942, not far from a 25-1/2 year peak of $944 reached on Thursday and just up from its previous $936/939.