Gold futures declined on Wednesday as investors avoided the precious metal ahead of the Federal Reserve's statement on monetary policy and interest rates. However, dollar's weakness against major currencies limited the losses to some extent.
Gold futures for December delivery settled down $4.50 at $1,224.90 an ounce on the Comex division of the New York Mercantile Exchange. While spot gold fell 1.4 percent at $1,210.20 an ounce.
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