Gold futures on the COMEX division of the New York Mercantile Exchange finished lower Wednesday ahead of the release of U.S. Federal Reserve policy-meeting minutes, which may signal the timing of a cutback in its stimulus policy.

The most active gold contract for December delivery fell 2.5 U. S. dollars, or 0.18 percent, to 1,370.1 dollars per ounce. Shortly after the release of the Fed minutes, gold traded at 1,367.7 dollars an ounce in the electronic session on Globex, down from the settlement price.

The Bloomberg U.S. Dollar Index, which tracks the greenback against 10 major currencies, rose the most in a week, reducing the appeal of gold as an alternative asset, market analysts say, in addition to some hesitation in the market ahead of the release of the minutes.

According to the notes of the U.S. central bank's meeting, Fed officials in July backed Chairman Ben Bernanke's stance that the Fed would slow down the pace of its asset purchase plan later this year if the economy continues to develop broadly as expected.

Gold has proved sensitive to U.S. monetary policy, partly because the Fed's ultra-loose policy has spurred gold buying as a hedge against inflation. Silver for September delivery fell 10.8 cents, or 0.47 percent, to close at 22.963 dollars per ounce.