Fed officials, led by Chair Jerome Powell, have said repeatedly they expect price pressures to be transitory and monetary stimulus to stay in place for some time.
Having risen for four sessions to its highest since Jan. 29 at $1,874.80 on Tuesday, spot gold fell 0.5% to $1,859.19 per ounce.
"I would say that part of the recent countermove or today's countermove is some profit taking, partly driven also by a small rebound of the US dollar."