The anticipation of the Federal Reserve's policy decision later today has also impacted gold prices

 Gold prices fell by approximately 1.3% to $3,383.88 per ounce on Wednesday, retreating from the previous day's gains. This decrease is attributed to growing optimism over U.S.-China trade negotiations, which has reduced the demand for gold as a safe-haven asset. U.S. gold futures also slipped about 1% to $3,391.80.