Gold falls in Asian trade, appearing to trade largely within its consolidation range of the last few weeks, says Empire FX's Crispus Nyaga in an email.

Markets are likely reacting to the Federal Reserve's decision to hold its interest rates steady. Traders seem to be pricing in a rate hike at the next meeting, but the probability for another hold has likely increased after the latest U.S. personal-consumption expenditures price index.

Still, major central banks are expected to tighten policy in coming months. A higher interest-rate environment typically drags down the nonyielding yellow metal.

Spot gold declines 0.3% to $4,091.57 a troy ounce.