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Gold prices edged down early on Tuesday after touching a one-month peak in the session earlier as the dollar strengthened ahead of the U.S. Federal Reserve monetary policy meeting.
Spot gold dropped 0.2 percent to $1,252.90 an ounce. It reached $1,258.79 per ounce in the session earlier, its highest since June 23.
U.S. gold futures for August delivery dropped 0.1 percent to $1,253.30 an ounce.
Holdings at the SPDR Gold Trust, the world's biggest gold-backed exchange-traded fund, dropped 0.51 percent to 809.62 tonnes on Monday from 813.76 tonnes on Friday.
Australian-based corporation Newcrest Mining Ltd said its fourth quarter gold production dropped 7.7 percent from the previous year after its Cadia mine was hit by an earthquake. However, its output managed to meet its full-year target.
