Gold futures retreated significantly on Wednesday as the precious metal faced its fourth declining session in the past six trading days, finding technical support at a critical moving average.

Gold futures edged higher Tuesday as the dollar weakened following the release of April's inflation data showing consumer prices rose at their slowest pace in four years.

Gold prices tumbled Monday as landmark trade agreements between the United States and two major trading partners—China and the United Kingdom—significantly strengthened the US dollar and altered the economic landscape for investors.