Gold shrugged off earlier gains to fall on Wednesday, as a report suggesting progress on the U.S.-China trade negotiations rekindled risk appetite, while palladium notched up a fresh peak.
Spot gold slipped 0.3% to $1,472.26 per ounce. Prices had hit $1,484 earlier in the session, their highest level since Nov. 7. U.S. gold futures settled down 0.3% at $1,480.2.
Elsewhere, platinum fell nearly 1% to $901.38 an ounce, while palladium rose 0.6% to $1,866.63. Elsewhere, silver shed 1.9% to $16.83 an ounce.