Gold price traded lower as the U.S. dollar strengthened after the release of the final U.S. gross domestic product (GDP). The U.S. final GDP declined 0.2% in the first quarter, in line with expectations, up from the previous estimate of a 0.7% drop.

The upward revision was partly driven by an upward revision to consumer spending. Consumer spending rose by 2.1% in the first quarter, up from the previous estimate of a 1.8% increase.

Debt talks between Greece and its creditors remain in focus. Tsipras said before flying to Brussels on Wednesday that some latest Greek reform proposals were refused by its creditors.

Greece rejected on Wednesday a "counter proposal" from its international creditors, according a government source.

August futures for gold on the COMEX today fell to 1168.10 dollars per ounce.