Gold futures on the COMEX division of the New York Mercantile Exchange fell on Wednesday as equities rose to record high.

The most active gold contract for December delivery went down 3.2 dollars, or 0.25 percent, to close at 1,283 dollars per ounce.

The Dow Jones Industrial Average climbed 147.96 points, or 0.64 percent to 23,145.40 points as of 1705 GMT.

When equities post gains, the precious metal usually goes down, as investors are not necessarily looking for safe haven.

The sharp rise of Dow Jones Industrial Average was mainly supported by better performances reported by big listed companies, said analysts.

IBM's shares jumped more than nine percent after the corporate posted quarterly results, which were better than the market had expected.

But the fall of gold futures was curbed by the U.S. dollar index, a gauge of the greenback against a basket of other major currencies, as it fell 0.06 percent to 93.45 as of 1756 GMT.

As for other precious metals, silver for December delivery fell 4.4 cents, or 0.26 percent, to close at 16.997 dollars per ounce. Platinum for next January went down 10.20 dollars, or 1.09 percent, to settle at 924.60 dollars per ounce.