Gold steadied on Wednesday ahead of the release of Fed statement, as investors aim to get clues about the interest rates and the strength of recovery.
The yellow metal hit a high of $1099.26 an ounce, while it currently trading at $1097.00, after opening at $1094.83.
Gold prices are still near its lowest level in more than five years, where the Fed meeting outcome is likely to weigh on metal’s movements.
The Federal Reserve will end their two-day policy meeting on Wednesday, where investors will wait for any clues about the timing of raising borrowing cost.
Data released on Tuesday showed mixed signs as U.S. home prices rose at a slower pace and consumer confidence dipped in July, while the services sector expansion widened this month.
The dollar rose against a basket of major currencies to hit a high of 96.98, rising from a low of 96.57, according to the dollar index.
The Shanghai Composite Index soared 3.4 percent on Wednesday, following a 10.2 percent fall the previous two sessions.
Crude oil retreated to $47.46 a barrel, after doing a rebound from near six-month low on Tuesday to hit a high of $48.41.