Silver rebounded on Wednesday from sharp falls in the previous session and gold inched upwards as investors cautiously awaited the conclusion of the US Federal Reserve's policy meeting while feeble sentiment in the dollar lent support. Gold is likely to trade in the range of $1,500 and $1,510 before making a decisive move, Fung said. Spot gold gained 0.5 percent to $1,508.59 an ounce by 0559 GMT.
It hit a lifetime high of $1,518.10 on Monday. US gold futures inched up 0.4 percent to $1,509.10. Spot silver bounced 0.9 percent to $45.88 from a 3 percent dip in the previous session, its biggest one-day loss in six weeks.