Spot gold fell 0.6% to $1,537.20 per ounce at 0728 GMT, but hovered near last week's $1,554.56, its highest since April 2013.
US gold futures were also down 0.6% at $1,546.6 an ounce.
Spot silver was up 0.5% at $19.33 per ounce, after hitting $19.57 earlier, its highest since September 2016.
Traders have almost fully priced in a 25 basis point interest rate cut at the Federal Reserve's meeting later this month, according to CME's FedWatch tool.
Since prices have rallied so sharply, there might be profit booking to the levels of $1,510-$1,515, Trivedi said.
With no agreement on the US-China trade front, investors remain nervous, said Michael McCarthy, chief market strategist at CMC Markets, adding that uncertainties following the UK parliamentary vote are a positive for gold.
Spot gold faces a resistance at $1,546 per ounce, a break above which could lead to a gain into the range of $1,568-$1,595, according to Reuters technical analyst Wang Tao.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 1.34% to 890.04 tonnes on Tuesday, their highest since November 2016.