Ammon News - Gold prices fell on Wednesday as optimism over potential U.S.-China trade talks weakened demand for safe-haven assets, while investors braced for the Federal Reserve's policy decision due later in the day.

Spot gold was down 1.3% at $3,383.88 an ounce, as of 0432 GMT. The metal climbed nearly 3% in the previous session.

U.S. gold futures fell about 1% to $3,391.80.

The market's focus will also be on the Federal Open Market Committee (FOMC) meeting later in the day, where the U.S. central bank is expected to hold interest rates steady.

Traders are expecting rate cuts of 80 basis points this year, starting in July.

Spot silver eased 0.7% to $33.01 an ounce, platinum dipped 0.1% to $983.60 and palladium lost 0.7% to $967.64. Reuters