As markets braced for a Federal Reserve meeting this week, gold prices dipped further on Tuesday, stretching losses for the fourth consecutive session. Copper, however, saw some resilience as attention focused on Chinese stimulus measures.

Spot gold slipped slightly to $1,954.34 per ounce, meanwhile gold futures dipped 0.3% to $1,955.75 per ounce.

Metal prices were also under pressure from the solid greenback and rising Treasury yields as investors shifted to the dollar ahead of the Fed meeting.

With the latest dips, gold has retreated towards the $1,950 per ounce level, which is anticipated to be challenged as a support as markets worry about the impending Fed decision.

At the end of a two-day meeting on Wednesday, the Fed is largely anticipated to raise interest rates by 25 basis points, though markets are anticipated to have already factored in the increase.

What the central bank will convey regarding its intentions for upcoming rate hikes is a major area of concern for markets. Fed Fund futures prices indicate that following Wednesday's rate increase, the bank will likely announce a protracted pause in its cycle of rate increases.