Gold fell for a third straight session on Wednesday, hovering near the lowest level in four weeks, as a rally in stocks and investor caution over the Federal Reserve curbing its stimulus program sapped support for bullion.
Fed Chairman Ben Bernanke said last month the bank could scale back its $85 billion monthly bond purchases if the U.S. economy strengthens, but a lack of clarity on the timing has unsettled markets. A policy statement from the central bank will be released on Wednesday after its meeting.
"Everyone is waiting for the FOMC meeting to end and what Bernanke is going to say about the future of the easing," said a trader in Hong Kong, referring to the Federal Open Market Committee.
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