Gold fell more than 1% on Wednesday as the Federal reserve held interest rates steady and gave little indication of when cuts might occur, while strong U.S. economic data further dimmed the appeal of the zero-yield asset.

Gold prices rebounded from a one-month low hit in the previous session, as trade uncertainty stemming from fresh US tariff announcements lifted bullion demand despite reduced expectations of a US rate cut.

Gold prices declined by 1% on Wednesday as solid US economic data reinforced expectations of the Federal Reserve holding interest rates steady for now, dimming the appeal of the safe-haven metal. By midday ET, spot gold traded at $3,292.75 per ounce, falling below the $3,300-an-ounce level for the first time in a month.