Gold Prices Tumble as Investors Await Federal Reserve Decision

Gold prices dipped slightly on Wednesday as investors awaited the Federal Reserve's decision on interest rates.

The US central bank's policy announcement is expected to provide clues on inflation and the direction of US interest rates, which in turn affects the value of gold.

Spot gold fell 0.1% to $4,021.87 per ounce, while US gold futures for August delivery lost 0.4% to $4,021.70.

The prices of other precious metals also fluctuated, with spot silver gaining 0.1% to $57.20 per ounce and platinum inching 0.1% higher to $1,605.96.