Gold settles higher, extends gains in electronic trading after Fed statement
Gold futures settled with a gain on Wednesday, then moved even higher in electronic trading as the U.S. dollar continued to trade lower in the wake of the Federal Reserve’s decision to raise a key short-term U.S. interest rate to a range of 1.25% to 1.5%. The rate hike was widely expected. Following the news, which came after the gold futures settlement, February gold was at $1,250.60 an ounce in electronic trading. It had finished the session at $1,248.60, up $6.90, or 0.6%, with gold futures logging their first gain in five sessions.
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