To update prices and add details

June 17 (Reuters) - Gold prices held steady near a one-week high on Wednesday as investors awaited further details on the U.S.-Iran deal and the Federal Reserve's monetary policy decision at Kevin Warsh's first meeting as chairman.

Spot gold was steady at $4,331.29 an ounce by 0420 GMT. U.S. gold futures for August delivery fell 0.1 percent to $4,351.40 an ounce.

The precious metal touched its highest level in more than a week at $4,370.82 an ounce on Monday.

Details of the interim agreement between the United States and Iran to end the war began to emerge, with US President Donald Trump announcing that the agreement excludes Tehran from possessing a nuclear weapon and a US official confirming that it allows Iran to sell oil upon its signing.

Oil prices hovered near a three-month low amid news that Iranian fuel could soon reach global markets, easing inflation fears.

“The decline in oil prices has led to… a reduction in expectations of an interest rate hike,” said Ilya Spivak, head of global macroeconomics at Tasty Life. “However, the rise in (gold prices) is losing some momentum as attention turns to the Federal Reserve’s monetary policy announcement.”

Investors are awaiting the Federal Reserve's decision and statements later today, amid widespread expectations that it will keep interest rates unchanged.

Spivak said, "This is the first meeting of the Federal Open Market Committee chaired by Kevin Warsh, and traders still seem uncertain about how he will reconcile his record of hawkishness, rising inflation, and pressure from the White House demanding a shift toward easing."

According to the CME Group's FedWatch tool, traders now see a 59 percent probability of a US interest rate hike in December, compared with about 70 percent last week before the announcement of the US-Iran agreement.

Gold loses its appeal when interest rates are high, because it does not generate interest.

"In the longer term, structural support (for gold) is expected to continue, driven by sustained Asian demand and ongoing central bank purchases to hedge against geopolitical and political risks," Westpac analysts wrote in a research note.

As for other precious metals, silver fell 0.2 percent to $70.05 an ounce, platinum dropped 0.7 percent to $1,792.05 an ounce and palladium declined 0.8 percent to $1,341.23 an ounce.