Spot gold held steady after the Federal Reserve reaffirmed its commitment on monetary easing, but a dollar rebound is expected to weigh on prices.
Spot gold edged down 0.2 per cent to $US1393.49 an ounce by 0024 GMT, after reaching a one-week high of $US1407.7 in the previous session.
US gold futures slipped 0.7 per cent to $US1395.2.
The US Federal Reserve on Tuesday offered only a cautious nod to the economy's improving prospects as it put a spotlight on lofty unemployment and reaffirmed its commitment to buy $US600 billion in bonds.
This came as data showed US retail sales rose for a fifth straight month in November, showing that the recovery gathered steam in the fourth quarter.
The dollar edged up against a basket of major currencies early in Asia on Wednesday in the wake of upbeat US economic data.
Holdings in the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, continued to slip, down 3.036 tonnes to 1286.794 tonnes, its lowest level so far this month.
Holdings in the iShares Silver Trust rose to an all time high of 10,964.14 tonnes.
Spot silver gained 0.1 per cent to $US29.44 an ounce.
Reuters