Gold prices were lower in European trading on Wednesday, edging down for the third straight session as investor sentiment remained skewed toward riskier assets amid optimism surrounding an expected tax reform announcement from U.S. President Donald Trump's administration later in the day.

Comex gold futures shed $2.60, or around 0.2%, to $1,264.65 a troy ounce by 3:00AM ET (07:00GMT), after falling to $1,262.30, a level not seen since April 11. Meanwhile, spot gold was steady at $1,263.45.

The yellow metal lost $10.30 on Tuesday as investors dumped safe-haven assets amid reduced concerns over the French presidential elections.