August gold fell $12.30, or 0.8 percent, to $1,567.50 on the Comex division of the New York Mercantile Exchange.
September silver dropped after the Fed report to $27.03 per troy ounce.
The euro fell to a two-year low after the report and was $1.2236 late Wednesday from Tuesday's $1.2239. Against the yen, the dollar was 79.62 yen from 79.76 yen.
The British pound was $1.5511 from $1.5503.
The Intercontinental Exchange Dollar Index was slightly higher at 83.49.