Gold ended the trading session lower on Tuesday as uncertainty before a Federal Reserve policy meeting and key U.S. data later this week pulled the metal back from a one-week high hit on the back of violence in the Middle East and Ukraine.
The Fed kicks off a two-day meeting on Tuesday, with markets watching for clues as to when the U.S. central bank will begin increasing interest rates. The bank will make a statement on Wednesday at the end of the meeting.
Gold is highly sensitive to any changes in U.S. monetary policy. It rallied to record highs in the wake of the financial crisis after the Fed's extraordinary stimulus measures drove down interest rates while stoking fears of inflation.