Gold futures on the COMEX division of the New York Mercantile Exchange settled slightly lower on Wednesday as U.S. dollar stayed firmer.

The most active gold contract for April delivery fell 1.50 dollars, or 0.11 percent, to settle at 1,325.60 dollars per ounce.

The U.S. dollar index, a gauge of the greenback against a basket of other major currencies, reversed its downward trend in the previous session and rose 0.03 percent to 89.71 as of 1743 GMT.

Gold and the dollar usually move in opposite directions. If the dollar strengthens, gold futures will fall as the precious metal, measured in U.S. dollar, becomes less attractive to investors using other currencies.

However, the fall of gold was limited by the plunge of U.S. stocks. The Dow Jones Industrial Average fell 248.91 points, or 1.00 percent, to closed at 24,758.12 Wednesday.

When equities post losses, the precious metal usually gets support, as investors are looking for a safe haven.

As for other precious metals, silver for May delivery fell 9 cents, or 0.54 percent, to settle at 16.537 dollars per ounce. Platinum for April went down 5.80 dollars, or 0.60 percent, to close at 961.50 dollars per ounce.