The most active gold contract for June delivery fell 1.8 U.S. dollars, or 0.1 percent, to close at 1,868.8 dollars per ounce.
Shortly after the market closes, the Federal Reserve concluded its monetary policy meeting and announced to lift interest rates by a half percentage point and launch sell-off of the 9-trillion-dollar bond stockpile starting in June.
Investors are expecting more interest rate hikes in the future as the Federal Reserve attempts to rein in inflation running at its hottest level since the early 1980s.
Economic data released on Wednesday are mixed. The S&P Global U.S. Services PMI decreased to 55.6 in April from 58.0 in March, a three-month low, but slightly above its preliminary reading of 54.7.
The Automated Data Processing Inc. employment report showed private employers added only 247,000 workers in April. That was below expectations for a gain of 395,000 and compares with a revised figure of 479,000 added in March.
The Institute for Supply Management (ISM) said its index of service sector activity slipped 1.2 percentage points from March to 57.1 percent.
Silver for July delivery fell 26.3 cents, or 1.16 percent, to close at 22.402 dollars per ounce. Platinum for July delivery rose 21 dollars, or 2.19 percent, to close at 979.6 dollars per ounce.
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