The gold price dropped 0.3 percent, to $1,210.91 an ounce, on Wednesday, but a sense that the Federal Reserve will postpone an anticipated interest rate hike curbed losses, according to Reuters.

“It remains to be seen whether the Fed will push back the tightening and if that’s the case we will see a further correction of the U.S. dollar, which could push gold into a higher range,” said Ross Norman, CEO of bullion broker Sharps Pixley.

Meanwhile, gold futures for June delivery dipped $5.90 an ounce to $1,207.80.