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Gold prices traded around $1,830 an ounce on Wednesday, after hitting a 2-month high of $1,854 in the previous session, amid a stronger dollar after the Fed decision came as expected.

The Fed announced it could soon hike the rates for the first time in more than three years and will continue to reduce its ultra-easy pandemic support.

The yellow metal has been recently driven by a combination of profit-taking after reaching recent highs and concerns on the next steps of the US central bank as rates hikes raise the opportunity cost of holding the bullion.