Gold prices turned lower on Wednesday after the US Federal Reserve announced it was raising interest rates. The Fed's move was widely expected but marked a milestone in the US central bank's shift from policies used to battle the 2007-2009 financial crisis and recession.
Spot gold lost 0.1 percent at $1,294.73 per ounce by 2:25 p.m. EDT (1825 GMT), after earlier hitting $1,292.15, its lowest since June 5. US gold futures for August delivery settled up $1.90, or 0.2 percent, at $1,301.30 per ounce.
"We're seeing a pretty solid economy in the US, so there's not a lot of reason for them to put off raising rates," said Rob Haworth, senior investment strategist for US Bank Wealth Management.
In other precious metals, silver lost 0.3 percent at $16.80 an ounce after hitting a seven-week high of $16.99. Platinum gained 0.1 percent at $894.49 per ounce, after dropping to $887.50, an eight-day low. Palladium dropped 0.9 percent at $1,009.22 per ounce after dipping to $997.15, its lowest since June 6.