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Its US$120 billion in purchases, announced in December 2020, would be reduced by $15 billion this month, chairman Jerome Powell said.
Meanwhile the bank could "be patient" regarding a rise in interest rates, he told reporters.
Gold had earlier dipped towards $1,760 an ounce on the spot market and was at $1,776/oz at the time of writing.
Red Lake Gold (CSE: RGLD) was the standout in Toronto, closing up 46% to C19c on news Barrick Gold is earning into its Whirlwind Jack project in Ontario, one of two earn-ins by the gold major either side of Great Bear Resources' Dixie project.
Turquoise Hill Resources (TSX: TRQ) fell almost 19% amid signs the over-budget Oyu Tolgoi underground development might be suspended from November unless extra cash is agreed by the joint venture board.
Finally, US stock indexes continued their record run, with the S&P 500 closing up 0.65% to 4,660.57.
