Gold price traded lower due to a stronger U.S. dollar. The U.S. dollar traded higher against the other currencies ahead of the release of the Fed's interest rate decision. The results of the Fed's monetary policy meeting are scheduled to be released at 18:00 GMT. The Fed will also release its economic forecasts. The Fed Chair Janet Yellen is scheduled to speak after the release of the results.

Investors are awaiting signals when the Fed starts raising its interest rate.

The debt talks between Greece and its creditors remained in focus. Greek Prime Minister Alexis Tsipras said on Wednesday that he was ready to assume responsibility for the consequences of rejecting a deal with creditors.

The next round of talks is scheduled to at the finance ministers' meeting this Thursday in Luxembourg.

Greek Finance Minister Yanis Varoufakis said that Athens will not provide a new reform proposal.

June futures for gold on the COMEX today fell to 1177.40 dollars per ounce.